EximBank insures the TOTALGAZ INDUSTRIE exports in Ukraine

Bucharest, May 9, 2017 – EximBank has issued an insurance policy against non –payment risk in the name of and on the account of Romanian State for TOTALGAZ INDUSTRIE exports amounting at 2.5 Million Euro in Ukraine. TOTALGAZ INDUSTRIE is one of the main local producers for equipment and installations for natural gas extruding, treatment, transport and distribution.

”Concluding this agreement with TOTALGAZ is an outcome of the constant concern of EximBank to meet the need for protection of Romanian exporting companies against commercial or political risks that may occur in international transactions. Since the beginning of this year, the bank has started again to cover exposures related to contracts concluded by Romanian exporters with public or private partners from Ukraine, following a bank decision in 2014 to suspend the engagements due to the conflictual situation installed in the country until the political turmoil clearance. So we are really encouraging the local companies to approach us confidently especially considering that successful commercial relations with foreign partners may be influenced by the financing party that is analyzing the risks along with them”, said Traian Halalai, Executive President of EximBank.

TOTALGAZ INDUSTRIE will deliver this year three installations for gas treatment and drying in Western Ukraine. The insurance policy issued by EximBank in the name of and on the account of the Romanian State permits TOTALGAZ INDUSTRIE to be certain of cashing in 85% of the total value of the products to be delivered to its commercial partner in Ukraine. By using the insurance policies issued by EximBank the company benefits from a regular presence on the target market developing new partnerships and concluding new export contracts also continuing its local activity.

”Our constant interest was to build a company based on strong principles focused on innovation, progress, performance and professional standards. We therefore managed to become worldwide known as a representative company in this field. At present, we are distributing our products in whole Romania, and abroad in Czech Republic, Egypt, Greece, Japan, Finland, Ukraine, Tanzania, Israel, Republic of Moldova, etc. We are able to approach various activities from equipment production to managing complex turnkey projects in energy and we intend to consolidate our presence abroad especially since we benefit from financial instruments that allow us to perform safely, such are the insurance policies issued by EximBank.”, said Ioan Pârău, General Manager and founder of TOTALGAZ INDUSTRIE.

About TOTALGAZ INDUSTRIE

TOTALGAZ INDUSTRIE is a Romanian company established in Iasi in 1994, having as main scope of work production of equipment and complex installations for treatment, drying as well as stations for adjustments and measurements for natural gas transport and distribution. In addition, the company has developed full range lines of products such as process valves, faucets, odorants, filters, separators, heaters and other equipment. TOTALGAZ INDUSTRIE has been investing in research and innovation for developing production technologies maintaining the high quality levels for all types of equipment. All these efforts translated into company’s growth and consolidation reaching a turnover of 64.6 Million Lei in 2015. The diversity and quality of the products are premises for increased exports and turnover. Most important foreign clients of TOTALGAZ INDUSTRIE are: TOKYO GAS ENGINEERING SOLUTIONS CO (Japan), BAKHRABAD GAS DISTRIBUTION CO. LTD (Bangladesh), TOWN GAS–Egyptian Company for Gas Distribution (Egypt), M.T. MORE TECHNOLOGIES Ltd. (Israel), TPF-BASSE SAMBRE SA (Belgium), NET4GAS- CZECH TRANSMISSION COMPANY, TEPGAS A.S. (Czech Republic), WARTSILA FINLAND OY-ENERGY SOLUTIONS (Finland), ENIMEX OGT Ltd. (Greece), NAFTOGAZMONTAZH Ltd. (Ukraine), MOLDOVA TRANSGAZ CHIȘINĂU (Republic of Moldova).

Additional information at office@totalgaz.ro, or at 0232 216 391.

About EximBank

EximBank has been actively involved for almost 25 years in supporting and promoting the Romanian business environment by endorsing local companies’ projects. The bank has developed complex integrated solutions for exporters by supporting the export activity since production stages, delivery up to cashing in the counter value of the exported goods by:

• FINANCING PRODUCTS – covering costs for goods production and delivery or for exported services;
• GUARANTEES – issued in the name of and on the account of Romanian State, reducing risks associated with financing and facilitating access to it;
• INSURANCE issued in the name of and on the account of Romanian State covering the cashing in of the exporters against the risks associated to foreign partners and target countries;
• FACTORING;
• TRADE FINANCE adjusted to company specifics – Documentary Letter of Credit; Letter of Banking Guarantee ; Incasso; Documentary Bill of Payment;
• COMMERCIAL INFORMATION ON BUSINESS PARTNERS.

Additional information at www.eximbank.ro or e-mail: informatii@eximbank.ro