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SUPERIOR, CO. – July 14, 2005 – Key Equipment Finance, one of the nation’s largest bank-affiliated equipment financing companies and an affiliate of KeyCorp (NYSE: KEY), today announced that it has renewed and strengthened its alliance with Showa Leasing Co., Ltd., a leading Japanese leasing company and Key Equipment Finance partner since 2003.
Under the agreement, Showa will play a more significant role in supporting Key Equipment Finance’s vendor program business in Japan. Key Equipment Finance will continue to support the client financing needs of Showa’s vendor programs for its Japanese customers operating in the U.S.
“Showa has demonstrated a commitment to Key Equipment Finance vendor customers in Japan over the past two years, and the relationships and cultural understanding they bring to the table allows us to provide better service to our customers in Japan,” said Karen Larson, president and chief operating officer of Key Equipment Finance’s global vendor services unit. “Strengthening our relationship with Showa will enable us to meet the needs of an even more diverse group of customers. This partnership allows both companies to provide localized leasing services to international vendors and customers.”
About Key Equipment Finance
Key Equipment Finance is an affiliate of KeyCorp (NYSE: KEY) and provides business-to-business equipment financing solutions to businesses of many types and sizes. The company focuses on four distinct markets:
- businesses of all sizes in the U.S. and Canada (from small business to large corporate);
- equipment manufacturers, distributors and value-added resellers worldwide;
- federal, provincial, state and local governments as well as other public sector organizations; and
- lease advisory services for manufacturers’ captive leasing and finance companies.
Headquartered outside Boulder, Colorado, Key Equipment Finance manages a $12.6 billion equipment portfolio with annual originations of approximately $5.7 billion. The company has major management and operations bases in Toronto, Ontario; Albany, New York; Chicago, Illinois; Houston, Texas; London, England; and Sydney, Australia. The company, which operates in 26 countries and employs 1,100 people worldwide, has been in the equipment financing business for more than 30 years. Additional information regarding Key Equipment Finance, its products and services can be obtained online at KEFonline.com.
Cleveland-based KeyCorp is one of the nation's largest bank-based financial services companies, with assets of approximately $93 billion. Key companies provide investment management, retail and commercial banking, consumer finance, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally.
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