PressClub United Kingdom · Article.
Alphabet strengthens position in European fleet management market through ING Car Lease acquisition
Fri Jul 08 09:36:00 CEST 2011 Press Release
Major step to be the leading provider of mobility services
Major step to be the leading provider of mobility services
Amsterdam/Munich. Alphabet, the international multi–brand fleet management division of BMW Group, will further strengthen its European market position through the acquisition of ING Car Lease, a division of ING Groep N.V. The purchase price amounts to EUR 637 million. The transaction is expected to close in the fourth quarter of 2011, subject to regulatory approvals.
“In the growing European fleet management market, ING Car Lease is the perfect fit to complement the activities of Alphabet. Alphabet will increase the number of company car contracts under management to approximately 540,000 and thus consolidate its competitive lead in the European fleet management market,” said Norbert van den Eijnden, head of Alphabet. Through the acquisition, Alphabet is able to provide its corporate customers with broadened services in now 16 European countries.
The strengthening of the fleet management business is in line with the BMW Group Strategy to be the leading provider of premium products and premium services for individual mobility. There is an increasing demand for flexible mobility and usage solutions. Corporate Car Sharing within the fleet management is one of the current initiatives of Alphabet to be prepared for future demands.
“Alphabet is concentrating on the growing full-service fleet management sector and is developing products and services for sustainable and efficient corporate mobility management. Alphabet already assists our corporate customers to manage a sustainable fleet with a focus on low fuel consumption. Fleet management will also support the introduction of electric vehicles,” continues van den Eijnden. Strengthening and expanding the fleet management activities means also offering a clear perspective to all employees.
ING Car Lease is a leading operational car leasing and fleet management business, with 240,000 vehicles in eight countries in Europe. ING Car Lease started its operations in 1977 and became part of ING Group in 1985. It has a total workforce of around 1200 employees per 31 December 2010.
About Alphabet
Alphabet is one of the fastest growing international fleet
management suppliers, providing financing and leasing for all makes
of vehicles. Established in 1997 in the UK, Alphabet today has a
financed car volume of approximately 200,000 vehicles of all makes
and manages in total more than 300,000 company car contracts for
over 12,000 customers. Alphabet is represented in 14 countries.
Alphabet offers a comprehensive portfolio of fleet products, with a wide selection of funding solutions, along with maintenance, service management, fuel management, accident management, risk management and vehicle rental. Alphabet Fleet Management is a division of BMW Group. Its headquarters are located in Munich, Germany.
More information is available at www.alphabet.com
The BMW Group
The BMW Group is one of the most successful manufacturers of automobiles and motorcycles in the world with its BMW, MINI and Rolls-Royce brands. As a global company, the BMW Group operates 25 production and assembly facilities in 14 countries and has a global sales network in more than 140 countries.
During the financial year 2010, the BMW Group sold 1.46 million cars and more than 110,000 motorcycles worldwide. The profit before tax for 2010 was euro 4.8 billion on revenues amounting to euro 60.5 billion. At 31 December 2010, the BMW Group had a workforce of approximately 95,500 employees.
The success of the BMW Group has always been built on long-term thinking and responsible action. The company has therefore established ecological and social sustainability throughout the value chain, comprehensive product responsibility and a clear commitment to conserving resources as an integral part of its strategy. As a result of its efforts, the BMW Group has been ranked industry leader in the Dow Jones Sustainability Indexes for the last six years.
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