Fleet News

GE creates new transport unit

GE Capital has created a new division called GE European Equipment Management to encompass its transport businesses, including GE Capital Fleet Services and commercial vehicle hire specialist TLS.

The far-reaching structural changes bring together GECFS, TLS, commercial trailer company TIP, and GE's modular space business (which rents and leases mobile offices) into a single European entity, led by John Bucci.

The company believes the closer links between the operations will facilitate the sharing of best practice and enable it to present a 'single-stop-shop' solution to clients.

In a further significant change, GEEEM will not report directly to GE in the United States, but will be European based, giving it greater 'flexibility and freedom to focus on the things we see as critical in a European environment,' said Dan Farrar, president and chief executive officer of GECFS Europe.

'The structure of GEEEM is creating a broader, larger value proposition, and creating a lot of synergies across our product lines,' he said.

The companies will maintain their brand identities - although TLS and TIP may see stronger GE branding - but Farrar said that by bringing the businesses closer together, GEEEM will be able to market finance and management solutions for vehicles of all sizes to new and existing customers.

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