U.S. EX-IM BANK PROVIDES UKRAGROCOM & HERMES-TRADING FINANCING FOR A GRAIN STORAGE FACILITY FROM GRAIN SYSTEMS, INC. (GSI), A U.S. COMPANY
UkrAgroCom & Hermes-Trading, Kirovohrad, Ukraine
U.S.-Ukraine Business Council (USUBC),
Washington, D.C., June 3, 2014
KIROVOHRAD, UKRAINE &WASHINGTON, D.C. -- The group of companies UkrAgroCom& Hermes-Trading has continued its successful work on the internationalmarkets and expanding its range of available financialinstruments. More and more projects have been realized, related to theattraction of direct financing from international financial institutions.
The advantages are obvious – lower costand longer pay-off periods. It is well known thatinternational financing has more advantageous terms however the pro
cess ofattracting the funds is much more complex and takes more time.
Despite allpossible difficulties that could arise from the process of attracting directexport financing from the Export-Import Bank of the United States (Ex-ImBank), the group of companies UkrAgroCom & Hermes-Trading decided to workactively in that direction. Today’s result is great proof for thecorrectness of the decision made – the financial deal has beensuccessfully executed and the necessary funds have been received.
The acquired financing was used for purchasing modern,leading elevator equipment of high quality from Grain Systems Inc. (GSI), (www.grainsystems.com) for one ofthe leading elevators of the group – PJSCSharivske with total storage capacitiesof 81 thousand tons of simultaneous storage of grain.
"To be unbiased I should say that this was oneof the projects in the financial history of our group that took thelongest time to complete. There were high requirements us from the U.S.Ex-Im Bank and we were successful in meeting meet all of them. Thisachievement is very pleasing and give us hope for the future potenti
al ofthis instrument regarding financing the Ukrainian agricultural sector",according to Oleksii Skichko, CFO of Hermes-Trading LLC.
"The well organized work and successful resultsbecame possible thanks to the efficient work of the Export-Import Bank ofthe United States of America (Ex-Im Bank) and the American financial company,American Trade & Finance Company, as well as to our Ukrainian bankingpartners PJSC Deutsche bank Ukraine and PJSC Ukrsotsbank."
The acquired experience and acquaintance with thefinancial market of the USA will allow to make new steps, bigger and moreconfident, in development of the existin
g and new projects – large-scale,highly technologicaland innovative.
The projects of the group of companies UkrAgroCom &Hermes-Trading are often among the leading ones not only in the region butin all of Ukraine:
- SvitlovodskRiver Terminal is the only river terminal in Kirovohrad region and thebiggest on the Dnipro river in Ukraine.
- Dairy farmPetrykivske Moloko is the most powerful dairy farm for 5 thousand heads ofHolstein cattle in Kirovohrad region and one of the leading ones in Ukraine.
Thebackbone for such success is the well-coordinated work with financialpartners in Ukraine and abroad as well as management’s (of the group ofcompanies UkrAgroCom & Hermes-Trading) clear understanding ofresponsibilities of the decisions being made and their effect on stability andeconomic development of society, number of jobs and wealth of communities.
Together we will achieve success. Ukraine is United.Keep moving forward!" stated CFO Skichko.
UNITED STATES COMPANIES GSI AND AGCO
The members of the U.S.-Ukraine Business Council (USUBC)congratulate the group of companies UkrAgroCom & Hermes-Trading on theirsuccess in completing financing from the U.S. Ex-Im Bank and for their decisionto buy grain storage equipment from GSI, a U.S. company headquartered inAssumption, Illinois, said Morgan Williams, Director, Government Relations,Washington, D.C. office of SigmaBleyzer, who also serves as President ofUSUBC.
"GSI, www.grainsystems.com,is the world's largest manufacturer of steel farm grain bins, commercialstorage grain bins and grain silos. In addition,they offer technologically advanced grain dryers in the industry anda large selection of material handling systems including grain bin sweeps,grain spreaders, chain loop systems, bucket elevators, chain conveyors,enclosed belt conveyors, support towers, and catwalks", Williamsstated. "GSI became part of the AGCO corporation a few years ago,also a major U.S. company."
AGCO, www.agcocorp.com,is a global leader focused on the design, manufacture and distribution ofagricultural machinery. They support more productive farming through afull line of tractors, combines, hay tools, sprayers, forage equipment,tillage, implements, grain storage and protein production systems, as well asrelated replacement parts.
AGCO products are available in more than 140countries worldwide, including Ukraine, through a network of 3,150independent dealers and distributors. AGCO is led by five coreglobal brands:
(4) Massey Ferguson
For more information on socialprojects of the group of companies UkrAgroCom & Hermes-Trading, please, visithere.
USUBC NOTE:UkrAgroCom& Hermes-Trading and AGCO/GSI are members of U.S.-UkraineBusiness Council (USUBC), Wash. D.C. www.usubc.org