General Electric Augments ASI's Liquidity - Analyst Blog
March 14 2013 - 7:30AM
Zacks
GE Capital, an operating unit of
General Electric Company (GE), recently closed an
inventory and working capital financing credit facility worth $40
million for ASI System Integration, Inc. The debt financing will be
executed by the Commercial Distribution Finance business of GE
Capital. The transaction will likely enhance the liquidity of ASI
System and facilitate the working capital requirements to fuel
further growth.
With over three decades of industry experience, ASI System is a
premier independent provider of IT (information technology)
services and solutions for diverse industries in North America. The
company offers a plethora of IT services such as consulting,
systems design, integration, lifecycle sourcing, asset sale, and IT
workforce staffing.
ASI System leverages its experience and industry-best practices to
help companies plan, design, implement, and support a fully
optimized data center for performance at peak service levels. In
order to drive further growth, ASI System seeks to grow both
organically and inorganically through acquisitions of companies
that complement its product offerings. The debt financing by
General Electric is expected to go a long way on this initiative.
At the same time, the inventory and working capital financing will
enable ASI System to address the cash conversion cycle to further
develop its business.
General Electric is one of the largest and the most diversified
technology and financial services corporations in the world,
competing with industry bigwigs such as Koninklijke KPN
N.V. (KKPNF) and Jardine Strategic Holdings
Ltd. (JSHLY), each carrying a Zacks Rank #1 (Strong Buy),
and China Merchants Holdings (International) Company
Limited (CMHHY) that carries a Zacks Rank #2 (Buy). 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
industrial products, it serves customers in more than 100 countries
across the world.
Its segments include Power & Water, Oil & Gas, Energy
Management, Aviation, Healthcare, Transportation, Home &
Business Solutions, and GE Capital. With more than 30 years of
experience serving the IT industry, GE Capital, Commercial
Distribution Finance possesses an in-depth industry know-how and
expertise. General Electric currently has a Zacks Rank #3
(Hold).
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