Success Story Herrenknecht
Export finance: Flexible solutions in challenging markets
Herrenknecht AG is a world leader in the market for mechanised tunnelling technology and a reliable partner in many major infrastructure projects around the world. Among the best known are the Gotthard Base Tunnel in Switzerland which was completed recently, and the tunnel under the Bosphorus in Istanbul. In many metropolitan areas, underground rail or supply and waste tunnels have been rebuilt using Herrenknecht technology. Herrenknecht employs around 5,000 highly qualified staff worldwide.
With 64 subsidiaries around the globe, Herrenknecht is well positioned internationally, both in established markets and in many emerging markets too. Herrenknecht equipment has to date been used in projects in around 90 countries. In many newly industrialised and developing countries, some contracts only come to fruition when Herrenknecht is able to offer a financing solution alongside its machinery.
Herrenknecht sometimes offers export financing solutions when it negotiates with potential international buyers of tunnel boring machines. These solutions have to be both tailored to individual needs and also take into account and safeguard against the possible risks of conducting business, especially in challenging markets.
In such instances, Commerzbank is able to use its knowledge of global markets, its decades of experience and expertise as well as its international network to provide a comprehensive range of services covering all aspects of cross-border business. Each solution is based on evaluating the different financing and hedging alternatives. In addition, information is shared with the customer concerning the documentation and guarantee business, which is done on a case-by-case basis.