EximBank – Adrem’s partner for business expansion in Uzbekistan
Bucharest, July 29, 2013 – EximBank has granted to Adrem Invest – a company active in the field of industrial engineering a 4 Million USD letter of guarantee allowing the company to conclude a contract for modernizing a ferrous metallurgic plant in Uzbekistan.
”There are companies in Romania that have reached their full potential on the local market now looking to and being able to become global players. All these companies find a partner in EximBank for developing their expansion plans. This is also the case with Adrem Invest one of the few Romanian companies that have been able to secure a good position on foreign markets which is now able to approach a new market due to the financial solution offered by EximBank. EximBank has set a priority out of the supporting the expansion of Romanian businesses abroad and is now implementing a flexible strategy that allows the bank to proactively answer to the clients’ demands.” declared Traian Halalai, President of EximBank.
Adrem Invest has concluded a contract amounting at 13 Million USD for modernizing the production facilities owned by Uzbek Metallurgic Plant – the only ferrous metallurgic company in Central Asia. The contract benchmarks the first presence of the Romanian company on this market, Adrem being already active in various countries in Asia, Africa or USA.
”Closing this new contract is part of the expansion process of the company by developing unique engineering solutions adapted to the needs of the companies active in the secondary metallurgic field, in this case in Uzbekistan. We found in EximBank a trustful partner because entering new markets is a challenge and the support granted by a bank is critical. EximBank positively answered our request and issued the necessary guarantees to ensure the Uzbek partner that we are in the position to successfully finalize the contract, especially that the guarantee was requested taking into account the fact that Uzbek Metallurgical Plant has already paid an advance payment for the works. We hope that this is the beginning of a long term partnership that will support our expansion plans abroad and will prove that a Romanian company may be a valuable partner for ambitious projects everywhere in the world.”, said Adrian Bodea, President of Adrem Invest.
EximBank has developed complex integrated solutions for exporters and companies seeking expansion in foreign countries similar to the ones offered by any ECA (Export Credit Agencies) such as:
Guarantees for participating in international bidding, guarantees for reimbursement of the importers advance payments, guarantees for good execution of contracts, insurance policies for incomes associated with exports contracts with delayed payments;
Insurance policies for buyer credits granted by the commercial banks to the importers for buying goods/services from Romania;
Insurance policies for Romanian investments abroad, taking over up top 90% of the expropriation risks, money transfers risks etc.
”Many companies that have operations on less traditional markets for Romania seek financing solution with EximBank.We supported projects not only in Russia, Azerbaijan, Uzbekistan or Afghanistan but we also have clients interested in South America or Africa. These markets offer solid business opportunities that may be used by Romanian companies even if the associated risks are higher and EximBank offers instruments that support their efforts. ”, added Traian Halalai.
EximBank is a specialized institution whose threefold product portfolio focused on financing, guarantee and insurance, enables it to grant assistance to current activities and development of exporters, SME-s and companies involved in projects pertaining to key economic sectors, particularly those contributing to the absorption of EU funds. The Bank has a network of 15 units in Bucharest, Bacau, Brasov, Buzau, Constanta, Cluj, Craiova, Deva, Galati, Iasi, Oradea, Pitesti, Ploiesti, Timisoara and Sibiu; also, interested companies may access additional information on www.eximbank.ro.
About Adrem Invest
Adrem Invest is a Romanian company orientated towards innovation and specialized in industrial engineering. It has four divisions: Process Engineering, SCADA&Automatisation, Integrated Services and Green Energy, a turnover of 173 Million Lei and more than 830 employees. Adrem Invest offers innovative technological solutions that increase the efficiency of the activity of the partner companies. More information at: www.adrem.ro