British & Commonwealth Plc’s Atlantic Computer has launched its Flexlease leasing option on the Spanish leasing market, touting the contract as an innovative service. Flexlease differs from the usual lease finance contracts in that it does not require customers to commit themselves to a particular system or rigid contract: leased systems can be replaced and contracts redrawn without any penalty, altough the downside is that the customer is locked in to the leasing company for a long period, and in some circumstances, it works out substantially more expensive than more rigrous contracts. Atlantic is promoting the option as enabling companies in Spain to acquire computer systems that satisfy their particular needs, no matter how those requirements change over time. The other message is that Flexlease offers easier access to new technologies as obsolescence rates accelerate. Atlantic opened for business in Spain in 1987 and Atlantic Espana SA, like its parent, specialises financing computer systems. Atlantic also has a computer broking division in Spain which deals in all brands of computer. According to the company’s European director, Hans Simon, Atlantic Espana SA has no concrete plans to acquire any Spanish companies at the moment, but he acknowledged that takeovers might enter the picture in the future, adding that such acquisitions require careful planning. The Spanish government also has a current policy that restricts leasing operations, which Simon hoped was only a passing trend. In 1988, Atlantic Espana turned over $8.5m but hopes to increase this to $21.3m for this year. It has offices in Madrid, Barcelona and Valencia and plays an increasingly important role relative to operations in the rest of Europe.
