• Tuesday, June 25, 2024
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Mantrac partners Stanbic IBTC for product sales


Mantrac Nigeria Limited,dealer in caterpillar and generators is partnering Stanbic IBTC Bank by providing a wide range of financial alternatives for customers on equipment purchasing.

The collaboration will avail Mantrac customers to access broad range of financial structures, flexible payment options at competitive rates in the bank.

Edmund Martin-Lawson, Managing Director Mantrac Nigeria who disclosed this at the company’s power system customer seminar in Ibadan said the move by company serves as an additional purchasing solution to meet customers’ needs. Apart from this,Martin-Lawson stated that the company also offer Customer support Agreement(CSA) adding that the agreement is a way of protecting investment and can be tailored to the needs of clients business.

The packages which are in three categories included Inspection,preventive maintenance and total maintenance and repair.

According to him,whatever the size or age of machine/generator, customers who sign up for the CSA will enjoy reduction on expense,disruption and loss of revenue caused by downtime.

To further meet customers yearning,he pointed out, that the company has delve into generator rentals to big companies to power their plants.

Explaining the rationale for the Ibadan seminar, Martin-Lawson said it was to create awareness about the company’s outlet opened in Ibadan late last year.

The new outlet which is majorly power system house will be a product support in terms of spare parts supply and service for customers.

“Apart from creating awareness,we see Ibadan as an industrial area in which we will selling total power system plant and service big manufacturing companies” he added.

In his presentation at the seminar,Stemmet Hentie

,Head of Vehicle and Assets Finance StanbicIBTC said the terms of finance for new machine or generator was spread between 12 to 60 and deposit of 20 percent months while pre owned tenor is 12 to 48 months with deposit of 30 percent

While saying that customers may not necessarily be an account holder with the bank ,Henti said “once a customers have relationship with Mantrac,they can open discussion with StanbicIBTC.

He listed the benefits of the collaboration to include immediate access to required assets,releasing working capital back into the business and assets backed finance(additional collateral not necessarily a requirement).

Mantrac group is authorised caterpillar dealer,distributing and supporting construction,power systems,mining and material handling equipment in nine countries spread across over three continents.