News

"El Camino Resources Ramps up Mexican Leasing" Business Wire (07/06/04)

El Camino Resources reports that its Mexican subsidiary achieved $25 million in new lease originations during the most recent fiscal quarter. The company's push to improve its Mexican operations helped make it a leader in Mexico's independent leasing market, where it focuses on providing leasing services to both multinational companies and companies listed on Mexico's stock exchange. El Camino President and CEO David E. Harmon says the company's Mexican operation could easily book $50 million in lease receivables in Mexico during the current fiscal year, and he forecasts that the Mexican subsidiary could write as much as $75 million of business. Following its announcement of a corporate realignment in April, El Camino is looking to improve its U.S. business, which focuses on the mid-sized business market. Within the early weeks of the realignment, the company's U.S. operation reported $4 million in leased assets. Harmon says he expects the U.S. operation to be highly successful, especially leasing Unix- and Linux-based servers.