KUKE Finance and Famur have signed a credit management agreement worth PLN 19.5m in total.
“This is the first agreement of its kind between Famur and KUKE Finance. We look forward to continued, longstanding cooperation as in the case of the collaboration between Famur and KUKE S.A. Credit management is one of the more important liquidity-providing elements. Famur, by choosing a suitable partner – KUKE Finance, has secured the implementation of the adopted strategy to optimise the receivable management process. This will allow the Company to concentrate on its core business. We will take care of the rest”, the president at KUKE Finance, Konrad Klimek, asserts.
The Famur Group is the leading producer of high-tech and high-performing solutions for the mining industry, in particular mechanised longwall systems, systems for the driving of narrow workings, underground transport systems, as well as opencast mining machines. It has subsidiaries in Russia, Kazakhstan, Ukraine, Germany, and India.
The company has been a client of KUKE since 2012 under Treasury-backed export credit insurance. So far, Famur’s transactions in Russia, Belarus, Mexico, Bosnia and Herzegovina, and Indonesia have been given insurance cover.
KUKE Finance, which provides factoring services, was set up by the Export Credit Insurance Corporation in March 2014. The general objective of KUKE Finance is financing export and domestic trade within the full range of factoring services available on the market, with particular consideration of full factoring involving the assumption of the contractor’s insolvency risk.
