Toronto, Canada, September 1, 2011 – GlobalTrade Corporation (GTC) has announced today that MBDA, a world leader in missiles and missile systems has selected its @GlobalTrade Standby LC/Guarantee Issuance System for managing standby letters of credit, bank guarantees, surety bonds and corporate guarantees across all business operations.
‘The functionality of the system and its ability to meet the specific needs of MBDA were key in the decision to select the GTC system’ said Kirsty Cowan, Group Head of Treasury Operations, MBDA. ‘The system will enable MBDA to automate and standardize workflow and to increase control and transparency over a wide portfolio of guarantees.’
‘We are proud that MBDA has selected our system,’ said Jacob Katsman, GTC’s CEO. ‘This order will help our company increase its expertise in servicing the aerospace and defense industry. Increasing adoption of multi-bank trade finance solutions by industry leaders such as MBDA is very positive for the market.’
About the MBDA Group
With industrial facilities in four European countries and within the USA, in 2010 MBDA achieved a turnover of € 2.8 billion with an order book of € 10.8 billion. With more than 90 armed forces customers in the world, MBDA is a world leader in missiles and missile systems. MBDA is the only group capable of designing and producing missiles and missile systems that correspond to the full range of current and future operational needs of the three armed forces (land, sea and air). In total, the group offers a range of 45 missile systems and countermeasures products already in operational service and more than 15 others currently in development. MBDA is jointly held by BAE SYSTEMS (37,5%), EADS (37,5%) and FINMECCANICA (25%).
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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