CIT Teams With Leading Broadcast Equipment Provider.Business & High Tech Editors LIVINGSTON, N.J.--(BUSINESS WIRE)--March 22, 2000 Alliance Offers Value-Added Service A value-added service (VAS) is a telecommunications industry term for non-core services or, in short, all services beyond standard voice calls and fax transmissions. for Customers In a move that will significantly expand its presence in the broadcast industry, CIT n. 1. A citizen; an inhabitant of a city; a pert townsman; - used contemptuously. Which past endurance sting the tender cit. - Emerson. Equipment Financing announced today that it has entered into an agreement with JVC JVC Victor Company of Japan (or Japan's Victor Company) JVC Jewelers Vigilance Committee JVC Jesuit Volunteer Corps JVC Jet Vane Control (directs VLS-launched missiles) JVC Jonker-Volgenant-Castanon Americas Corporation under which it will be a primary U.S. provider of loans and leases on the sale of JVC's professional products. The financing program, which is targeted to broadcasters and commercial customers and being marketed by JVC's sales force, will include financing on items like video projectors A video projector takes a video signal and projects the corresponding image on a projection screen using a lens system. All video projectors use a very bright light to project the image, and most modern ones can correct any curves, blurriness, and other inconsistencies through , digital VTRs, and editing products. JVC estimates that more than 20 percent of its customers finance or lease the products they purchase. JVC will have the ability to obtain financing for its customers online through CIT's eFinance-it.com website. The site allows JVC to navigate through the complete credit application process, and also provides comprehensive information in terms of loan or lease reporting, invoicing, and analysis. "We are delighted to offer CIT as a leasing and financing source for JVC customers," said Masaharu Mannen, President of JVC Professional Products Company, a division of JVC Americas Corp. and a leader in broadcast and presentation technology. "CIT is a financing leader with a broad range of services that meet the needs of our broadcasting and commercial customers. By offering an easy financing solution, we are providing a value-added service to our customers." "JVC's leadership positions in the broadcast and high-definition projection marketplace supported by CIT's financing expertise makes for a powerful combination," said Robert J. Merritt, Group CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of CIT Equipment Financing. "We look forward to growing this relationship in the future." JVC Professional Products Company, based in Wayne, New Jersey Wayne is a township in Passaic County, New Jersey, United States, located less than 20 miles from midtown Manhattan. As of the United States 2000 Census, the township had a total population of 54,069. , distributes a complete line of broadcast and professional equipment including video projectors, plasma displays, digital cameras, digital VTRs, monitors, and editing products. For more information on JVC's professional products, visit the company web site at www.jvc.com/pro. CIT Equipment Financing offers companies a wide variety of financial solutions including equipment leasing Equipment Leasing is a financing option to lease equipment for a certain amount of time. Leasing Benefits
See: New York Stock Exchange :CIT). With $50 billion in managed assets, CIT (www.cit.com) is one of the nation's largest commercial and consumer finance organizations. |
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