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“EKN quickly guided us to the right solution”
With EKN's help, the company CUE DEE was able to conduct transactions with new customers in Niger and Ghana.
CUE DEE designs, markets and sells masts, towers and antenna support for the telecom and wind energy industry. Approximately 80 percent of its products are exported. In its transactions with developing countries, the company needs security against non-payment.
Transactions in Africa
“In 2009 and 2010, we sold equipment to Niger and Ghana,” says CUE DEE's CFO Harry Carlsson. “For us, these were new customers in new uncertain markets and in countries which offer relatively complex business relationships. We contacted EKN, who were willing to help us with the necessary security. This meant we were able us to deliver when, for example, Ghana decided to introduce a 4G network and ordered a large number of masts from us.”
Guarantees were the solution
Harry is delighted with the cooperation with EKN. “We have good personal contact with EKN. They assessed the transaction and quickly guided us to the right solution. The guarantee for trade receivables means that EKN covers most of the risk in exchange for a premium fee. In this way, we were able to conduct the transaction without any concerns about non-payment by customers. EKN has been reliable and professional every step of the way – from our online application to conclusion of the transaction.”
Continuing cooperation
“It's obvious they have solid experience in transactions with difficult countries and they're only too happy to offer tips and advice along the way,” says Harry.
“We shall definitely use EKN in the future. In fact, we are already embarking on a really large transaction in another part of the world. And we have involved EKN directly in this one.”
Published: Jan 04, 2012
Last updated: Jan 04, 2012