“EKN is an important part in our offer”
With highly customised projects and complex products, the guarantees covering the risks associated with such activities are critical for ABB Sweden’s ability to handle the risks and to close the deals.
All of ABB Sweden’s five divisions are export-oriented, delivering systems and products to large-scale power and automation projects all over the world. Joakim Beckius, Manager for the Project and Trade Finance Department, arranges financing and risk cover to successfully support ABB Sweden’s export.
– We’re involved in transactions ranging from some 100,000 USD to 1 billion USD, often at an early stage. Financing and risk cover is critical in making attractive offers to potential customers.
The guarantee is a must
EKN plays an important part in our offer, helping us to deal with risks that we cannot manage ourselves, Joakim Beckius says.
– I mean, there are a lot of deliveries from ABB tailored to the specific customer’s demands and needs. If a contract or client faces difficulties, the consequences for ABB can be severe. In such cases, which are not frequent, it is vital that ABB has taken appropriate measures to minimize possible losses, both in case of non-payment or cancellation of contracts. The comfort of having EKN’s guarantee for loss on production is therefore often a prerequisite for making the deal happen.
A strategic partner
ABB and Joakim Beckius often take customers to visit the EKN office in Stockholm, as a way of showing how the cooperation works.
– Our customers are always positive about the opportunities that an EKN guarantee brings in respect of getting good terms in financial issues. EKN’s approach is business-oriented and reflects a sense of trust that we really appreciate.