CIT and Lennox Industries Announce Vendor Financing Agreement.Program Will Assist in Improving Commercial Building Energy Efficiency Throughout North America NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of & DALLAS & TORONTO -- CIT n. 1. A citizen; an inhabitant of a city; a pert townsman; - used contemptuously. Which past endurance sting the tender cit. - Emerson. Group Inc. (NYSE NYSE See: New York Stock Exchange : CIT), a leading global commercial finance company, today announced a vendor financing Vendor Financing The lending of money by a company to one of its customers so that the customer can buy products from it. By doing this, the company increases its sales even though it is basically buying its own products. agreement with Lennox Industries Inc., a subsidiary of Lennox International Inc. (NYSE: LII Adj. 1. lii - being two more than fifty 52, fifty-two cardinal - being or denoting a numerical quantity but not order; "cardinal numbers" ). Under the terms of the agreement, CIT Vendor Finance will provide financing to commercial customers of Lennox's North American commercial contractors to upgrade their existing inefficient Heating Ventilation and Air Conditioning (HVAC (Heating Ventilation Air Conditioning) In the home or small office with a handful of computers, HVAC is more for human comfort than the machines. In large datacenters, a humidity-free room with a steady, cool temperature is essential for the trouble-free ) systems to Lennox's more energy efficient models. This will enable them to lower their maintenance costs while utilizing more energy saving equipment. "We are excited about this relationship and the opportunity to partner with an industry leader like Lennox," said Kris Snow, Co-President, CIT Vendor Finance. "This financing program offers Lennox's clients the chance to upgrade to newer and more efficient energy savings equipment. This is good news for the environment, Lennox, and their clients." Lennox clients will also experience a streamlined application process, and an enhanced customer service plan that will assist them throughout the financing process. "We are excited to offer our commercial contractors a comprehensive program to assist them in promoting high efficiency HVAC equipment in the important planned replacement market," said Susan Herndon, Vice President, Lennox Commercial Sales. "Financing is a key element of this program and we believe that the option provided by CIT Vendor Finance will appeal to the cash flow needs of many of the commercial end users." The Environmental Protection Agency Environmental Protection Agency (EPA), independent agency of the U.S. government, with headquarters in Washington, D.C. It was established in 1970 to reduce and control air and water pollution, noise pollution, and radiation and to ensure the safe handling and (EPA EPA eicosapentaenoic acid. EPA abbr. eicosapentaenoic acid EPA, n.pr See acid, eicosapentaenoic. EPA, n. ) and the Department of Energy (DOE) recently selected Lennox Industries Inc. for the fourth time as an ENERGY STAR(R) Manufacturing Partner of the Year for its outstanding contributions to energy-efficient products. Lennox is the only heating, ventilation, and air conditioning manufacturer ever to be chosen for the EPA award. Individuals interested in receiving future updates on CIT via e-mail can register at http://newsalerts.cit.com About CIT Vendor Finance CIT Vendor Finance is a global leader in financing solutions that drive incremental revenues for manufacturers, distributors, and other intermediaries. It provides customized financing solutions to customers in more than 30 countries, supporting a wide variety of industries, including healthcare, industrial equipment, and technology. About CIT CIT (NYSE: CIT) is a global commercial finance company that provides financial products and advisory services to more than one million customers in over 50 countries across 30 industries. A leader in middle market financing, CIT has more than $80 billion in managed assets and provides financial solutions for more than half of the Fortune 1000. A member of the S&P 500 and Fortune 500, it maintains leading positions in asset-based, cash flow and Small Business Administration lending, equipment leasing, vendor financing and factoring. The CIT brand platform, Capital Redefined, articulates its value proposition of providing its customers with the relationship, intellectual and financial capital to yield infinite possibilities. Founded in 1908, CIT is celebrating its Centennial throughout 2008. www.cit.com About Lennox Industries Lennox Industries is a subsidiary of Lennox International Inc. Through its subsidiaries, Lennox International Inc. is a global leader in the heating, air conditioning, and refrigeration refrigeration, process for drawing heat from substances to lower their temperature, often for purposes of preservation. Refrigeration in its modern, portable form also depends on insulating materials that are thin yet effective. markets. Lennox International stock is traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol "LII." Additional information is available at: http://www.lennoxinternational.com |
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