NEWS
TRUMPF ESTABLISHES BANKING FOR PRODUCTION COMMUNITY
The laser and machine tool manufacturer, Trumpf, has founded its own bank for the production engineering community: Trumpf Financial Services. A manufacturer’s own deposit bank, while
known in the automotive industry, is a first in the mechanical engineering sector. Trumpf president, Dr Nicola Leibinger-
Kammüller, commented: ‘We certainly have industry-specific advantages – we are closer to our customers than many traditional bank representatives, we are active in the real economy, and we provide for reinvestment in the German mechanical engineering sector.’ Being licensed as a universal bank will enable
Trumpf to offer entirely new products in the future for everything relating to sales financing, lending, and business startups – not only in Germany, but throughout Europe. Trumpf’s banking license includes an ‘EU passport’, enabling services to be offered across borders without the need for separate authorisation procedures. Trumpf’s UK branch, based in Luton, is
30 LASER SYSTEMS EUROPE ISSUE 23 • SUMMER 2014
currently processing 10 new finance projects with a combined value of €5 million. ‘Finance projects in the UK are now being
processed directly by the Trumpf bank in Germany and the customer using a cross-border leasing agreement. Sales tax is therefore charged using the reverse charge mechanism which offers important cash flow advantages,’ said Simon Binns, finance director of Trumpf UK. Trumpf employees will benefit
from the banking license, as will the leasing sector, which has seen an increase in the regulatory requirements for hiring machines. ‘We understand the clients’
machine to guarantee the loan.’ Ever since 2001, Trumpf has provided sales
as a universal bank will enable Trumpf to offer entirely new products in the future
Being licensed
business and needs and can see potential behind their investment better than anyone,’ explained Hans-Joachim Doerr, managing director of the bank. ‘We can offer greater flexibility than others and, unlike alternative lenders, we only use the
financing via its own leasing company, which has operated since October 2012 under the name of Trumpf Financial Services. In 2007 a second leasing company, Trumpf Finance Switzerland, was added. Currently, customers in 22 countries are making use of the company’s financing models, and there are cooperation partners in 11 countries. Elsewhere, Trumpf has agreed
on a joint venture in the additive manufacturing sector with Italy’s largest laser manufacturer Sisma. Both partners are bringing
expertise, human resources and capital to the joint venture. Trumpf Sisma is based in Piovene Rocchette near Vicenza, Italy, where the two companies plan to co-develop latest-generation production systems for the 3D printing of metal components.
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www.lasersystemseurope.com
Trumpf
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