Dynapac North America Partners with First Citizens Bank
Dynapac North America LLC and First Citizens Bank have embarked on a new vendor finance collaboration. This promising agreement aims to facilitate access to leasing and lending solutions, specifically tailored for Dynapac customers looking to acquire new road construction equipment.
Understanding Dynapac's Role in Road Construction
Located in Fort Mill, South Carolina, Dynapac is widely recognized as a key player in the global manufacturing sector, specializing in road construction and compaction equipment. Their impressive product lineup includes asphalt rollers, pavers, feeders, and lightweight machinery.
A part of the esteemed Fayat Group, a French construction and industrial enterprise, Dynapac's commitment to quality and innovation has made it a notable choice for contractors across various projects.
Benefits of the New Financing Agreement
This new financing agreement promises to empower Dynapac's dealer network and distributors by providing them with the necessary resources to either lease or buy advanced road-paving equipment. The objective is to streamline road construction processes, making them safer, quicker, and more economically feasible.
Yann Monnet, President and General Manager of Dynapac North America, expressed enthusiasm about this partnership. He stated, "Dynapac's compaction and paving solutions enable contractors to achieve high-quality and consistent results. Collaborating with First Citizens Equipment Finance allows us to provide more flexible financing options for dealers and customers to acquire the equipment needed to operate and grow their businesses."
Insights from First Citizens Bank
Harold Ray, leading the construction group at First Citizens Bank Equipment Finance, echoed the sentiments regarding this initiative. He remarked, "Dynapac is a trusted provider recognized for its engineering quality and robust dealer support. This vendor program allows us to provide its dealer network and distributors with a tailored retail and rental financing program to find the equipment that best fits their needs."
The Equipment Finance group at First Citizens Bank is dedicated to enabling original equipment manufacturers, vendors, and small to mid-size enterprises by offering competitive financing solutions through a unique sales model that combines both inside and outside support. Their focus on technology and structural expertise enhances the service provided to clients.
About First Citizens Bank
First Citizens Bank is dedicated to assisting personal, business, commercial, and wealth clients in building lasting financial strength. With its headquarters located in Raleigh, North Carolina, it has cultivated a legacy characterized by stability and strategic foresight that spans generations. The bank offers a comprehensive array of services, including a nationwide branch system, commercial banking solutions, and innovative banking options tailored for businesses at every phase. As a top 20 U.S. financial institution, First Citizens BancShares, Inc. (NASDAQ: FCNCA) boasts over $200 billion in assets and is a member of the Fortune 500™.
For clients looking to learn more about First Citizens Bank's services, a wealth of information is readily available online.
Frequently Asked Questions
What is the purpose of the Dynapac and First Citizens Bank agreement?
The agreement aims to provide financing solutions tailored for Dynapac customers seeking to lease or purchase new road construction equipment.
Where is Dynapac North America located?
Dynapac North America is based in Fort Mill, South Carolina.
What products does Dynapac manufacture?
Dynapac specializes in asphalt rollers, pavers, feeders, and other road compaction equipment.
Who is the parent company of Dynapac?
Dynapac is a subsidiary of Fayat Group, a significant French construction and industrial company.
How does First Citizens Bank support the vendor financing model?
First Citizens Bank provides a tailored financing program that enables manufacturers and dealers to access the necessary resources to meet their equipment needs.