EKN at Siemens in Finspång

When EKN representatives Hjalmar Brundin, Marie Aglert, and Andreas Hedlund meet exporter Siemens Industrial Turbomachinery AB in Finspång, they normally have a full agenda.

"We always have transactions in progress with Siemens," says Hjalmar. "And of course we want to accompany and support the exporter throughout the entire process."

The advantages according to Siemens

Daniel Lundgren, Commercial Director at Siemens, and his colleague Åsa Gunnarson, Trade Finance Advisor, represented Siemens at the meeting. Daniel is highly appreciative of EKN's involvement.
"We have a close partnership with EKN that goes back many years." They are an important partner as 95% of our business volume is exported.
He goes on to say:
"EKN can give us invaluable support in higher-risk transactions further afield. They also help us by identifying risks."

EKN crucial

Daniel explains why EKN is becoming increasingly important to Siemens customers.

"Financing was not a problem a few years ago, but with the financial crisis, even the large strong companies out there are having difficulty raising loans. That's why financing has become a more crucial issue. Nowadays, EKN often makes the difference between whether a transaction takes place or not."

He goes on to point out another advantage, which is EKN's sustainability and ability to offer Siemens and its customers long-term contracts.
"Our customers need long-term credit as they make large investments where the earnings take time to materialise. With EKN guaranteeing the loans, our customers have a credit period that reflects the time until they obtain a return on their projects. It is easier for them to get a loan from the bank, as they can demonstrate better financing figures."

Delivering what they promise

Daniel can see that EKN works entirely in line with its assignments.

"It's obvious to us that, compared with its counterparts around the world, EKN is good at picking up new trends and getting a feel for what the market needs. It is very clear that EKN is keen to promote Swedish exports.”

Close relationships the key

The relationship between Siemens and EKN is a good example of a flexible and effective partnership. Daniel Lundgren, who has worked with EKN for five years, sums up the situation:

"I think EKN have become more easily accessible. You always know who you need to call, and our primary contact Andreas Hedlund knows how we function – both as individuals and a company."

At EKN, Andreas Hedlund is Account Manager for Siemens. He agrees:
"Yes, it's true – we have really close contact. We talk three or four times a day and I often visit them. I also meet their sales personnel in order to gain an insight into the entire process and really understand their products. And the contact means Siemens understands EKN much better too."

Earlier the better

Both Siemens and EKN feel the close relationship brings many positive effects. It means it is natural for EKN to be involved in transactions early on, often even at the offer stage.

"We want EKN there as early as possible, in order to show customers they have access to a good financing solution when buying our products," says Daniel.

And Andreas points out that there are other advantages.

"If there are problems in a transaction, for example, it's good if we've been there right from the start so that we know the entire process and are familiar with the exporter's customer."

Factory tour

The meeting concluded with Siemens giving EKN a tour of the 'inner sanctum' of the factory. They were able to see the work that goes on day in day out at Finspång – the manufacturing and processing of world-quality gas and steam turbines, ready to be packaged and exported across the globe.

Published: Oct 27, 2010
Last updated: Oct 27, 2010