Metal cutting tool giants ink joint financing venture

Gildemeister AG and Mori Seiki will be offering customers who buy their metal-cutting machine tools financing solutions from the beginning of 2010. Both companies, along with the Japan?atrading enterprise Mitsui & Co. Ltd, have just signed a contract founding the joint-venture financing company MG Finance GmbH. The registered office of MG Finance will be in Wernau, Germany, in the state of Baden- W黵ttemberg. The foundation of the joint company is subject to permission being granted by the federal trade commissions. Gildemeister and Mori Seiki each hold 33% of shares in the enterprise, with Mitsui holding the remaining 34%. This joint venture provides individualized financing solutions for the principals?machine tool customers who are experiencing shortfalls of funds. At first, customers from Germany and Great Britain will be able to take advantage of the financing offers available; but over the course of 2010, the opportunity will be extended Europe-wide.Lebron James Shoes