Business
Element Financial Expects to Originate $3.8 billion in Organic New Business in 2014
TORONTO , Jan. 14, 2014 /CNW/ - Element Financial Corporation (TSX:EFN) ("Element" or th...
About this update from Element Fleet Management Corporation
[{"type":"text","content":"\n\n\nTORONTO, Jan. 14, 2014 /CNW/ - Element Financial Corporation (TSX:EFN)\n (\"Element\" or the \"Company\"), one of North America's leading equipment\n finance companies, announced today that it expects to organically\n originate more than $3.8 billion of new equipment loans and leases\n during 2014 across the Company's five North American market verticals\n representing an increase of 80% over the $2.1 billion Element estimates\n it originated in 2013.\n\n\nIn the Company's Commercial and Vendor Finance verticals, Element\n expects to originate approximately $1,188 million in new loans and\n leases in 2014 versus the $987 million estimated for 2013. In the\n Aviation Finance vertical, the Company expects to increase its 2014\n volume by 41% to $870 million versus the $654 million estimated for\n 2013. In the Fleet Management vertical, the Company expects to grow its\n new business volume to $474 million in 2014 versus the $418 million\n estimated for 2013 which includes annualized volumes from the GE\n Capital Canadian fleet portfolio acquired in late June of that year.\n Element's new Railcar Finance vertical is expected to originate $1,350\n million of new business in 2014 following the inauguration of the\n Company's vendor alliance with Trinity Industries in December of last\n year when Element acquired an initial $102 million portfolio of railcar\n finance assets.\n\n\n\"Through the relationships that we have developed with our various\n manufacturing partners, from Dallas-based Trinity to Montreal-based\n Tremcar, we have visibility into the order books of these manufacturers\n which gives us line-of-sight to the organic origination volumes that\n we've used to build this strong outlook for 2014,\" said Steven K.\n Hudson, Element's Chairman and CEO.\n\n\nAbout Element Financial Corporation\n\n\nWith total assets of approximately $3.3 billion, Element Financial\n Corporation is one of North America's leading equipment finance\n companies. Element operates across North America in five verticals of\n the equipment finance market - Commercial Finance, Vendor Finance,\n Aviation Finance, Railcar Finance and Fleet Management.\n\n\nForward Looking Statements\n\n\nThis release includes forward-looking statements regarding Element and\n its business.  Such statements are based on the current expectations\n and views of f...