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GE CAPITAL CANADA, THROUGH ITS TIP DIVISION, SIGNS AGREEMENT TO PURCHASE TRAILER ASSETS OF INTERCAN LEASING, INC. OF CANADA

 GE CAPITAL CANADA, THROUGH ITS TIP DIVISION, SIGNS AGREEMENT
 TO PURCHASE TRAILER ASSETS OF INTERCAN LEASING, INC. OF CANADA
 STAMFORD, Conn., Sept. 10 /PRNewswire/ -- General Electric Capital Canada Inc., a subsidiary of GE Capital, announced today that it has signed an agreement to purchase approximately 2,000 semi-trailers from Intercan Leasing Inc. of Canada. The trailer assets are located in the Provinces of Quebec and Ontario. GE Capital Canada's trailer leasing activity is carried on primarily under a division which does business as Transport International Pool (TIP).
 This acquisition will expand TIP's Canadian fleet of approximately 7,000 trailers and will enable TIP to provide significantly increased availability of trailers and services to its enlarged Canadian customer base. TIP's semi-trailer rental, leasing and sales business in North America comprises 110 branch and division facilities, 14 of which are in Canada and, upon completion of this acquisition, will include a fleet of approximately 44,000 units.
 The transaction is subject to the completion of due diligence and board of directors', shareholders', lenders' and regulatory approvals. The purchase agreement provides for the closing to take place before Oct. 30, 1992. Intercan is a public company and is listed on the Montreal Exchange.
 GE Capital, headquartered in Stamford, Conn., a wholly owned subsidiary of General Electric Company, is a diversified financial services company with assets exceeding $80 billion in more than 20 businesses. GE Capital's financing activities include equipment management, equipment financing, corporate financing, consumer/retail services, commercial real estate financing, and specialty insurance. GE is a diversified manufacturing, technology and services company with operations worldwide.
 -0- 9/10/92
 /CONTACT: Thomas F. Lamb, Jr. of GE, 203-357-4346, or home, 203-452-9889/ CO: General Electric Capital Canada Inc.; GE Capital ST: Connecticut IN: SU:


TM-PS -- NY090 -- 8222 09/10/92 17:05 EDT
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Publication:PR Newswire
Date:Sep 10, 1992
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