Big Venture in Vehicle Rentals
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A COMPANY designed to specialive IA in the large-scale leasing of capih:l equipment and vehicles to British industry and other undertakings was -announced in London last Friday. It is to be called Equipment Leasing Co., Ltd., and has been formed by Hambros Bank, Ltd., Phoenix Assurance Co., Ltd., and Cable and Wireless (Holding), Ltd., together with Lease Plan International Corporation, of New York.
The company will have three major divisions; the first dealing with financial leasing. The second will deal with vehicle leasing, including .maintenance, insurance, tax, and so on. Thirdly there will be a contract lease division which, in addition to the other facilities, will provide the necessary man-power as well.
The organization will undertake the leasing of machine tools and other factory equipment, fleets of cars and commercial vehicles, office machines. storage tanks, containers, and anything else that is requested. Rents will be determined on the cost of the equipment and the period of the lease. At the end of the basic lease the customer can continue to lease at a small prearranged rental. The equipment remains the property of the Equipment Leasing Company,