WOOOHHOO! Ride like the wind!
BOSTON--(BUSINESS WIRE)--March 15, 2000--Chancellor Corporation (OTC BB: CHLR) announces today that it has completed a lease origination for transportation equipment with Whirlpool Corporation (NYSE: WHR). The transaction consists of approximately $1.5 million of equipment at original cost.
The company is once again gaining credibility with its previous customer base - investment grade Fortune 500 customers such as Wal-Mart, Texaco, Chrysler, and Amoco. With its anticipated second consecutive profitable year to be announced shortly, along with its projected tenth consecutive profitable quarter, the company is continuing to build on its new foundation. The deal with Whirlpool emphasizes that Chancellor is gaining acceptance within the financial community. After several years of struggle, Chancellor's resurgence back to profitability has many of its previous customers requesting quotes for equipment financings. This re-found faith in the company by many of its once former customers only supports the idea that Chancellor's turnaround is intact.
In addition to Chancellor's recent success within the industry, Chancellor has formed new relationships with well-established companies such as Associates First Capital, Phoenix Corporation, GE Capital, Firstar, First Union, and Summit Bancorp. Companies that choose to partner with Chancellor are showing that they believe in the philosophy and management of the company. Chancellor Chairman and CEO, Brian M. Adley commented on the financings, "Companies that choose to do business with Chancellor will be extremely pleased with the results. We are spearheading an evolution in the industry."
Chancellor Corporation is spearheading an evolution in transportation equipment finance through innovative financing and fleet management programs. The Company seeks to reduce a customer's total holding cost through its "Wholesale-Plus" lease pricing strategy and through other value-added services, including asset management, equipment maintenance, fuel management and data management strategies. Since its founding in 1977, Chancellor has completed a total of approximately $1.5 billion in equipment lease transactions for its Fortune 500 and middle market customers in the U.S. and select international markets. Chancellor is a fleet management and transportation equipment leasing firm headquartered in Boston. The Company's Internet address is chancellorcorp.com. The Company is publicly traded under the symbol "CHLR".
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995:
The statements contained in this release which are not historical facts may be deemed to contain forward-looking statements with respect to events, the occurrence of which involves risks and uncertainties, including, without limitation, demand and competition for the Company's lease financing and asset management services and the products to be leased or remarketed by the Company, the continued availability to the Company of adequate financing, the ability of the Company to recover its investment in equipment through remarketing, and other risks and uncertainties detailed in the Company's Securities and Exchange Commission filings.
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Contact:
Chancellor Corporation
(617) 368-2700
information@chancellorcorp.com
chancellorcorp.com |
