Siemens Financial Services and Grass Valley announce Financing Program
Allows More Commercial Flexibility for Thomson’s Media and Entertainment Customers
Munich/Paris/Amsterdam, Sep 7, 2006, As a further service to its customers in Europe, Siemens Financial Services (SFS) and Grass Valley, a business within Thomson have announced the creation of “Grass Valley Financing”. Designed specifically for Europe-based Grass Valley customers and following the success of a similar venture in North America earlier this year – “Grass Valley Financial Services” – the program provides flexible finance services to enable existing and future customers to move rapidly into new technology to meet their business challenges. Grass Valley Financing – operated by Siemens Financial Services is designed for all sizes of businesses in the media and entertainment industry across Europe.
“We launched our financial services program in North America earlier this year and it has proved a remarkable success. We are responding to a real need from our customers to deliver a comprehensive solution – answering all the commercial questions as well as the technical ones. In forging this partnership with Siemens Financial Services I am confident we will bring the same benefits to the European marketplace,” said Marc Valentin, president of the Grass Valley business within Thomson.
“With the new European financing program, companies of all sizes can more quickly purchase planned technologies – from individual product transactions all the way to complex system solutions worth several million euros,” said Kari Kupila, head of the Siemens Financial Services’ Equipment & Sales Financing Division. “We are delighted to have established a strategic partnership with Grass Valley and to be able to meet the high demands of a technology and equipment leader such as Grass Valley with our many years of international experience.”
As with the open approaches and advanced technologies Grass Valley provides in its digital applications solutions and services, Grass Valley Financing is structured to provide customers as much flexibility and choice as possible. It offers a large number of solutions tailored to the specific liquidity needs of Grass Valley customers.
With the help of such solutions, the cost of implementing new services in the multi-format and multi-distribution environment can be eased, just as Grass Valley solutions ease the technical challenges. All financing solutions are geared toward the particular requirements of the markets that Grass Valley serves – from production and broadcast to professional audio/visual and distribution and transmission.
With its roughly 1,700 employees and an international network of financial companies coordinated by Siemens Financial Services GmbH , Munich, the Siemens Financial Services (SFS) Group offers a broad range of financial services. This covers everything from sales and investment financing to treasury services, fund management and insurance brokerage. SFS’s key customers are above all internationally active industrial and services companies, as well as public-sector operators. For information about Siemens Financial Services please visit www.siemens.de/sfs.
Thomson (Euronext Paris: 18453; NYSE: TMS) provides technology, services and systems to help its Media & Entertainment clients – content creators, content distributors and users of its technology – realize their business goals and optimize their performance in a rapidly changing technology environment. The Group is the preferred partner to the Media & Entertainment Industries through its Technicolor, Grass Valley, RCA and Thomson brands. For more information www.thomson.net.
Thomson’s Systems division develops video and film technologies, products and services sold to all major Hollywood studios, all major television, satellite, and cable broadcasters under the Grass Valley brand- name for the delivery of analog and digital entertainment. The division also includes the Thomson Premises Systems Business Unit, which provides IP, satellite, cable and terrestrial premises systems as well as consumer networks systems, and the Network Intelligence Solutions organization, which develops software solutions for network operators. For information about Grass Valley products from Thomson please visit www.thomsongrassvalley.com.
This press release contains forward-looking statements and information – that is, statements related to future, not past, events. These statements may be identified by words as “expects”, “anticipates”, “intends”, “plans”, “believes”, “seeks”, “estimates”, “will” or words of similar meaning. Such statements are based on our current expectations and certain assumptions, and are, therefore, subject to certain risks and uncertainties. A variety of factors, many of which are beyond Siemens’ control, affect its operations, performance, business strategy and results and could cause the actual results, performance or achievements of Siemens worldwide to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. For us, particular uncertainties arise, among others, from changes in general economic and business conditions, changes in currency exchange rates and interest rates, introduction of competing products or technologies by other companies, lack of acceptance of new products or services by customers targeted by Siemens worldwide, changes in business strategy and various other factors. More detailed information about certain of these factors is contained in Siemens’ filings with the SEC, which are available on the Siemens website, www.siemens.com and on the SEC’s website, www.sec.gov . Siemens does not intend or assume any obligation to update or revise these forward-looking statements in light of developments which differ from those anticipated.
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