Iveco and Fraikin have signed a strategic partnership agreement to develop the long-term contract hire of commercial and industrial vehicles in Italy

Turin - February 9, 2016 - In a fast growing market, Iveco and Fraikin Italy have signed a cooperation agreement to develop the long-term contract hire of commercial and industrial vehicles in Italy as an alternative offer to purchase.

Fraikin Italy considers Iveco and its Italian network as the ideal partner through which it plans to sign long-term rental contracts corresponding to truck investments of up to €8M in 2016 and €12M in 2017. The two businesses are planning to combine their respective skills to satisfy Iveco clients by offering them a unique long-term contract hire solution to optimise their fleet and their related management costs.

Fraikin began operating in Italy in 2015 and rapidly signed several contracts during the last quarter of 2015, allowing numerous clients to appreciate the added value of Fraikin’s full-service solution.

According to Pierre Lahutte, President of Iveco, "this agreement demonstrates Iveco’s ability to seize every opportunity that the market presents to fully satisfy our clients which have changed during these years of economic crisis, in particular those who have become under-capitalized. Iveco can rely on the best dealer network in Italy: we are confident that, with their help, we will increase the sales of Iveco vehicles thanks to the contract hire solutions proposed by Fraikin Italy." 

Pierre-Louis Colin, President of Fraikin, announced: "Today, Fraikin has made a further step in its development in Italy by signing an important partnership with the OEM Iveco. This agreement makes Fraikin the Iveco’s strategic partner in Italy, enabling Fraikin to offer through Iveco’s Italian dealer network its full-service contract hire solutions".

Iveco Iveco is part of CNH Industrial N.V., a global leader in the capital goods sector, listed on the New York Stock Exchange (NYSE: CNHI) and on the Electronic Share Market (MTA), organised and managed by the Italian Stock Exchange (MI: CNHI). Iveco designs, builds and markets a wide range of light, medium and large commercial and industrial vehicles as well as construction site and quarry vehicles.

The large product offering includes the Daily, a vehicle with a gross vehicle weight rating of between 3 and 7 tons, the Eurocargo, with a GVW of between 6 and 19 tons, the Trakker, designed for all-terrain activities, and the Stralis with a GVW of over 16 tons. In addition, through the Iveco Astra brand, the company proposes construction site and quarry vehicles, rigid and articulated dump trucks and specialised vehicles.

Iveco has around 21,000 employees and builds vehicles equipped with the most advanced technology in 7 countries, in Europe, Asia, Africa, Oceania and Latin America. 4200 points of sale and assistance in over 160 countries ensure that technical support is available wherever Iveco vehicles are used.