Export Situation – Through the Eyes of the Timber Industry
Both FALCO Zrt., a leading actor in the Hungarian chipboard and laminate board production industry, and HAMUHÁZA Kft. who produces logs, work mainly for the export markets. Both of them supply dominantly to Central Europe, but this is not their only common feature: both companies are open to professional financial solutions.
As it has cleared out in the double-interview that they gave to portfolio.hu, their point of view is very similar regarding the risks of foreign trade: in the case of deferred payments, neither of them supply without export-credit insurance. This is partly due to previous unpleasant experience of non-payments, partly to the relatively high value of the shipments, and partly to the considerations of prudence and prudent management.
As the article shows, FALCO has been cooperating with EXIM since 2008, and HAMUHÁZA has contracted export credit insurance for the first time this year. ’We have insured our existing export markets with the help of EXIM, because they were able to cover the risks even in those export relations where private insurers do not work. Thanks to this solution we have become able to handle the payment risks of our existing customers, and it boosts the further expansion of our export, as well’ explained the CEO of FALCO in the interview.
The full text of the interview can be read here.