This agreement provides customers with a simple and comprehensive solution for global equipment remarketing and auction services. GES� deep-domain expertise in electronic manufacturing equipment, coupled with Thomas Industries� proficiency in auction services, offers a compelling and unique value proposition to customers.
�Thomas Industries allows us to further specialize in real-time webcast and on-site auctions, in addition to silent online auction formats, said Roger Innes, president and CEO of GE Commercial Finance, Global Electronics Solutions. �In turn, we are able to offer customers expanded services to reliably and efficiently remarket all of their surplus assets. This improves our customers� cash flow and helps optimize valuable factory floor space.�
�Together, we have over 60 years of combined auction experience,� commented Tom Gagliardi, president of Thomas Industries. �We are able to provide unparalleled resources and services that are unmatched by our competitors. For example, our capacity to quickly prepare and catalog entire facilities, including all equipment, furnishings and fixtures, for disposition or resale, provides a one-stop shop solution saving our customers time and effort.�
About GE Commercial Finance, Global Electronics Solutions
GE Commercial Finance, Global Electronics Solutions, headquartered in San Diego, California, is the leading global expert in delivering customized asset management services (Acquire, Use, RemarketSM) to electronics manufacturers of semiconductor fabrication (FAB), automated test equipment (ATE), printed circuit board assembly (PCA) and flat panel display (FPD) equipment. Through its worldwide network, GES provides a host of flexible financing and leasing solutions, product insights and market intelligence, as well as efficient remarketing services that reduce customer risk and increase their return on investment. For more information, visit http://www.geelectronicsweb.com.
GE Commercial Finance, which offers businesses around the globe an array of financial products and services, has assets of over $190 billion and is headquartered in Stamford, Connecticut.
General Electric (NYSE: GE) is Imagination at Work � a diversified technology, media and financial services company focused on solving some of the world's toughest problems. GE serves customer in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit http://www.ge.com.
About Thomas Industries Inc.
Thomas Industries, with headquarters in Guilford, Connecticut, has been in business since 1947 and is one of the nation's largest full service auction and appraisal firms. As a uniquely structured company, Thomas Industries Inc. provides asset based lenders, original equipment manufacturers (OEMs) and processors with loan inception appraisals, monitoring, workouts, auctions, repossessions and complete real estate valuation and disposal services. For more information, visit http://www.thomasauction.com.
For further information, contact:
GE Commercial Finance, Global Electronics Solutions Diego Villamizar, 858-320-7340
GE Commercial Finance, Global Electronics Solutions Sheralee Francisco, 408-980-7716
Tom Gagliardi, Jr., 203-458-0709