Toronto, Canada, March 18, 2013 – GlobalTrade Corporation (GTC) has announced today that FLSmidth, leading supplier of equipment and services to the global cement and minerals industries has selected GTC’s @GlobalTrade Multi-bank Trade Finance Platform for managing issued and received bank guarantees and export documentary credits.
‘After careful evaluation of solutions available on the market my team has selected GTC based on their robust technology and clear understanding of our needs,’ said Bo Jørgensen, Head of Group Treasury, FLSmidth.’
‘FLSmidth trade finance people have spent considerable amount of time going into every function, page, field and label during the evaluation stage of our software, said Jacob Katsman, GTC’s CEO. I was impressed with the attention to detail and organization of the selection process. The project work starts today in Copenhagen.’
@GlobalTrade system will enable FLSmidth to create a global trade finance multibank database, standardize its processes, get overview of counterpart risks and optimize the use of guarantee facilities.
Founded in 1882 FLSmidth is a leading supplier of equipment and services to the global cement and minerals industries. FLSmidth supplies everything from single machinery to complete cement plants and minerals processing facilities including services before, during and after the construction. FLSmidth employs over 15,000 people worldwide in offices in more than 50 countries worldwide. The Company’s in-house resources are primarily engineers who develop, plan, design, install and service equipment, with most of the manufacturing being outsourced to sub-suppliers. FLSmidth’s revenue was EUR 3,338bn in 2012 and 99% of that is from business outside of Denmark, for more information see: www.flsmidth.com.
GlobalTrade Corporation (GTC) is a software developer and application service provider whose product solutions improve the world of trade finance and trade services. The @GlobalTrade systems help buyers, sellers, traders, and financial institutions communicate faster and more efficiently while reducing risk and improving monitoring and control. Their 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 a registered trademark of GlobalTrade Corporation. For more information please visit www.globaltradecorp.com
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