LeasePlan Group’s business consists of fleet and vehicle management, mainly through operational leasing, including maintenance and repair works. In order to set up a business in Romania, the company invested €1.2 million in IT hardware and infrastructure, renting offices and registering the company.

“For several years, there has been demand for operational leasing, a very popular product in the West. Our goal is to deliver 800 vehicles next year, and, by the end of 2009, we plan to have a 1,700-car fleet,” said LeasePlan Romania’s General Manager, Bogdan Apahidean. LeasePlan’s international clients include real estate developer AIG-Lincoln and German group Siemens. “AIG-Lincoln became our first client in Romania by purchasing two cars. We expect that other multinational companies we work with internationally to enter our Romanian clients’ list too,” added Apahidean.

LeasePlan is owned by a consortium consisting of Volkswagen Group – 50 percent of the shares, Abu Dhabi-based Mubadala Development Company– 25 percent, and the Saudi Arabian Olayan Group – 25 percent. The company has a universal banking license since 1993, regulated by the Dutch Central Bank, as well as its own insurance company based in Ireland.

In 2006, LeasePlan Group had profits worth €210.8 mln and posted a 28 percent increase, up to €126.3 mln, in H1 this year.