Toronto, Canada, October 19, 2009 – Nordex AG has now optimized both its guarantee business and its communication with banks by using the @GlobalTrade Guarantee Issuance System. The system is offered and hosted in Munich by HypoVereinsbank, member of Unicredit Group, which is one of the Mandated Lead Arrangers of the guarantee facility syndication. The @GlobalTrade Guarantee System is accessed by banks issuing guarantees for Nordex.
‘Our decision to implement @GlobalTrade as an independent platform for the administration of bank guarantees was mainly driven by the possibility of having a fully integrated electronic process for handling guarantees with different banks with a one face solution,’ said Thomas Stötzel, Head of Corporate Finance and Treasury of Nordex AG.’ In addition, we have been able to integrate all corporate guarantees in the system which increases the transparency and facilitates the assignment of the cost to the respective affiliated companies.’
‘We are proud that Nordex AG has selected our Guarantee Issuance system to manage its letters of guarantee with its banks,’ said Jacob Katsman, CEO GlobalTrade Corporation. ’Growing adoption of multi-bank trade finance systems on the market is a trend that is here to stay,’ he added.
‘One key aspect of UniCredit Group’s Global Trade Management concept is to provide its customers with trade services holding a genuine surplus value,’ states Markus Wohlgeschaffen, Head of Global Trade Finance & Services of UniCredit Group.’ The biggest potential for enhancing value is to focus on holistic solutions rather than on single product offerings. This, however, implies one fundamental prerequisite: the thorough understanding that our customers are the driving force in all foreign trade processes and that all other parties, including banks, are only subordinated participants. For this reason, we believe in customer-oriented multi-bank and multi-entity solutions like @GlobalTrade that safeguard easy-to-use and easy-to-implement process improvements.’
About Nordex AG
Nordex AG has more than twenty-four years of experience in the harnessing of wind energy. Few technologies have made as much progress in recent years as those used in wind energy. Nordex is one of the fathers of this development. After all, since 1985 Nordex has been setting standards with the development up to readiness for series production of ever larger and thus more economical turbines. In addition to the state-of-the-art overall technical design, their knowledge has also been applied to the development of rotor blades with a length of up to 45 meters, as well as to the integrated electrical and control technology for wind turbines. Today more than 3,735 Nordex wind turbines with a total rated output of more than 4,900 megawatts are already operating in 34 countries throughout the world. Nordex has representatives in offices and subsidiaries in 18 countries.
About UniCredit Group
UniCredit Group is one of the largest banks in Europe with over 10,000 branches in 22 countries and with an international network of branches, representative offices, and banking subsidiaries in 50 countries worldwide. The Group’s capabilities to serve financial institutions and Corporates is enhanced by Global Transaction Banking (GTB), the global product line of international transaction services in trade and export finance, supply chain finance and cash management and e-Banking areas.
About GTC
GlobalTrade Corporation (GTC) is a software developer and applications service provider whose product solutions improve the world of trade finance and trade services. Our @GlobalTrade systems help buyers, sellers, traders, and financial institutions communicate faster and more efficiently while reducing risk and improving monitoring and control. Our customers include both business enterprises that need consolidated access to multiple banks as well as financial institutions that require supply chain finance solutions to meet their clients’ needs. @GlobalTrade™ is the registered trademark of GlobalTrade Corporation.
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