Plants and factories warm to asset finance: Siemens 05 December 2014

Manufacturing firms worldwide are increasingly using asset finance to fund new equipment and technology upgrades, according to a study by Siemens' Financial Services Division (SFS).

The research reveals that 76% of global manufacturers have seen increased demand for asset finance when acquiring equipment over the last two years.

It also finds 93% of firms expecting global interest in asset finance to rise from manufacturing customers over the next two years – with growth estimated at more than 5% annually across Europe – potentially reflecting a previously deferred need to invest as economic confidence returns.

Meanwhile, in the US and Asia, uptake of asset finance is expected to continue annual growth of 3% and more than 14% respectively.

"Access to up-to-date technology is critical to a manufacturing company's competitive position, cost-control and productivity," comments Brian Foster, head of industry finance at SFS.

"By using asset finance, businesses can meet the constant demand for high-specification, tailor-made equipment in a financially sustainable way."

Siemens' survey was conducted among global top 40 industrial machinery manufacturers.

Brian Tinham

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