NORWALK, Conn.--(BUSINESS WIRE)--July 26, 2005--GE Commercial Finance, Commercial & Industrial Finance (CIF) today announced the appointment of Dennis Krause as Industry Leader for the food, beverage and agriculture marketplaces. Today's announcement is part of an ongoing initiative to align CIF's go-to-market resources with the fastest growing financing opportunities, industry-by-industry.
In his new role, Krause will be responsible for driving investment activity in the food, beverage and agriculture markets, where CIF already has deep experience working with companies like NutraSweet and Dairy Farmers of America. Of primary focus will be the food processing and manufacturing sectors, where many firms are looking for a lender to support plant and equipment upgrades, strategic acquisitions or capacity expansion into faster growing sub-segments of the market. Krause will report to Craig Reynolds, senior managing director, CIF.
Launched earlier this year, the CIF Industry Specialization model combines the structured financing expertise of GE Commercial Finance with deep industry knowledge to accelerate growth across seven targeted segments: Aerospace & Defense; Automotive; Chemicals & Plastics; Food, Beverage and Agriculture; Paper, Packaging and Forest Products; Steels, Metals & Mining and Transportation & Construction. Supported by a dedicated team of research analysts, all seven Industry Leaders have now been appointed to help CIF strengthen its position in these markets.
"A key differentiator for CIF in the marketplace is the ability to combine highly structured financing expertise with deep industry knowledge in our target segments," said Reynolds. "As a member of CIF's Industry Leadership Team, Dennis will work in tandem with our global sales force to deliver fast, flexible financing solutions tailored to help food, beverage and agriculture companies address their unique business challenges."
Krause has more than 10 years experience as a senior financial executive in the food processing and agribusiness markets. Prior to joining GE, he served as Chief Financial Officer for Triumph Foods, LLC, a vertically integrated pork company, where he successfully arranged the strategic equity capital and project financing for the company's $150 million plant in St. Joseph, Mo. Previously, Krause was Vice President of Finance and Investor Relations for American Italian Pasta Company, where he led the company's initial and secondary public stock offerings on the New York Stock Exchange.
Krause also spent six years in a financial capacity with Seaboard Corporation, a large international agribusiness and transportation company. While at Seaboard, Krause was actively engaged in operational, financing and corporate treasury projects for Seaboard's domestic operations, including vertically integrated poultry, baking, milling, produce and aquaculture outfits. In addition, Krause provided strategic analysis and raised more than $500 million in project capital for the company's successful expansion into the southwest.
Krause received both undergraduate and graduate degrees from the University of Kansas, where he studied business administration and finance.
About GE Commercial Finance, Commercial & Industrial Finance
Commercial & Industrial Finance (CIF), a unit of GE Commercial Finance, is a premier global provider of structured financing solutions to the commercial and industrial marketplace. CIF provides innovative financing solutions for a broad array of customer needs including recapitalization, equipment leasing, and growth capital. With over $9 billion in served assets, Commercial & Industrial Finance has the expertise and funding capability to deliver exceptional financing solutions. GE Commercial Finance, which offers businesses around the globe an array of financial products and services, has assets of more than US$230 billion and is headquartered in Stamford, Conn., USA.
GE (NYSE: GE) is Imagination at Work -- a diversified technology, media and financial services company focused on solving some of the world's toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit www.ge.com
Contacts
GE Commercial Finance
Ned Reynolds, 203/229-5717
[email protected]
or
GE Commercial Finance, CIF
Jay Pierce, 203/229-1887
[email protected]
Jeff Wilson
GE Capital Corporate Finance
[email protected]
1-203-749-6340