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GE CAPITAL FLEET BUSINESS COMPLETES ACQUISITION OF BALLAS LEASING

 GE CAPITAL FLEET BUSINESS COMPLETES ACQUISITION OF BALLAS LEASING
 MINNEAPOLIS, Feb. 21 /PRNewswire/ -- GE Capital Fleet Services announced today that McCullagh, its regional fleet business headquartered in Detroit, has completed the $23 million acquisition of the 2,300-vehicle lease portfolio of Ballas Leasing, Inc. located in Toledo, Ohio.
 "This acquisition allows McCullagh to strengthen its regional service network in a key market," said Jim Culotta, president and general manager of McCullagh. The office locations of Ballas will be merged into McCullagh's nationwide network of regional business centers.
 GE Capital Fleet Services is the largest corporate fleet management company in North America with more than 500,000 cars, trucks and specialty vehicles under lease, management and administrative services. It has 44 offices in the United States and Canada. It is one of 20 businesses that comprise GE Capital, one of the largest diversified financial service companies in the U.S. with more than $77 billion in assets.
 -0- 2/21/92
 /CONTACT: Bob Cochrane of GE Capital Fleet, 612-828-2916/ CO: GE Capital Fleet Services, Ballas Leasing, Inc.; McCullagh ST: Minnesota; Michigan, Ohio IN: TRN SU: TNM


AL -- MN009 -- 1502 02/21/92 16:11 EST
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Publication:PR Newswire
Date:Feb 21, 1992
Words:194
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