CIT Vendor Finance last week announced a two-year vendor financing agreement with Ingersoll-Rand (China) Investment Co., a subsidiary of Ingersoll-Rand Co. CIT will provide vendor financing for Rand’s Construction Technologies and Compact Vehicle Technologies equipment. The relationship is expected to expand to other major worldwide markets.

“We chose CIT because of its global expertise in vendor finance and for its deep understanding of our businesses and the unique financing needs of our customers,” said Edward Hetherington, president of Ingersoll Rand Financial Services. “We look forward to increasing our relationship with CIT as we expand our business in high growth markets around the world, particularly in Asia and Latin America.”

CIT Group is based in New York.