First Leasing Bank backs Gulf Industry Fair
Manama, October 31, 2007
First Leasing Bank (FLB) has agreed to become the strategic Equipment Leasing Partner for the Gulf Industry Fair to be held in Bahrain from January 15 -17.
The event is being organised by Hilal Conferences and Exhibitions (HCE) at the Bahrain International Exhibition Centre.
Commenting on the decision, James Cracco, CEO of First Leasing Bank said: "The Gulf Industry Fair represents an excellent opportunity for our company to be associated with what will become the region's leading industrial exhibition. We are committed to providing financing for equipment, including both finance and operating leases.
"We have financed assets ranging from carton manufacturing equipment to stevedore cranes, plastic film manufacturing equipment to environmentally friendly oil tanker cleaning equipment. First Leasing Bank has also provided leasing for a wide variety of printing, processing and construction equipment," he said.
"We are targeting transaction growth of around $100 million for 2007 and are committed to doing business throughout the GCC region. By participating in this key event, First Leasing will further highlight the potential for equipment leasing in the Gulf, which has been conservatively estimated at $11 billion per year. In fact, while everyone is aware of the construction and real estate sectors, an equally key part is the 'quiet economy' and that is the building of new factories and new businesses," he added.
Jubran Abdulrahman, managing director of HCE, said: "We are delighted with First Leasing's support of the Gulf Industry Fair, which is being staged in association with Hannover Messe, organisers of the world's largest industrial exhibition, The Hannover Fair.
"The exhibition is ideally located in Bahrain, which is not only just a short distance by road from the region's industrial powerhouse - the Eastern Province of the Kingdom of Saudi Arabia, but where the Government of Bahrain has undertaken a number of initiatives to encourage investment in and the development of industrial enterprises. First Leasing Bank's commitment as one of our strategic partners underlines the company's appreciation of the significance of the Gulf Industry Fair as the region's leading industrial event as well as its strategic importance to Bahrain, which is rapidly developing into the most important exhibitions hub for the Northern Gulf states.
The Gulf Industry Fair incorporates eight sub-events covering all the major aspects of industry. These are: gulf manufacturing, gulf automation, gulf metal, gulf aluminium, gulf metrology and gulf energy. The event will also have a special focus on Industrial Areas and Free Zones. - TradeArabia News Service