Fleet News

GMAC targets Eastern Europe

General Motors Acceptance Corporation (GMAC) will use its new presence in Poland as a 'footprint' for further expansion into central and Eastern Europe.

Earlier this year, the financial subsidiary of General Motors bought leasing company Futura Leasing and Prime Car Management (PCM), an affiliated full service leasing company, both of which are based in Gdansk.

It marked GMAC's first full service leasing venture into Eastern Europe and both companies will join the Masterlease Group, GMAC's full service leasing organisation in continental Europe.

GMAC said full service leasing was an important part of its international growth strategy, adding it already has 'proven experience in this business' through its Masterlease subsidiaries in Austria, Germany, Greece, Italy, Portugal and Spain, Interleasing in the UK and also HNL Fleet Services in Australia.

'We are already seeing mutual benefit from the acquisition and we are progressing rapidly,' said Ed Sabisky, managing director of Masterlease Europe.

'Our growth plans in Poland are ambitious but we are confident we can benefit from the combination of a favourable market and an established local management team,' he added.

Sabisky added that entering Poland was a strategic move for Masterlease. 'We are looking at further expansion into central and Eastern Europe and Poland was a first step in achieving a strategic footprint in those regions,' he said. (September 2001)

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