QINGDAO, China, June 4, 2019 /PRNewswire/ -- Tradewind has closed a deal with a tire company based in Qingdao, Shandong Province in China to provide a recurrent facility of 800,000 US dollars to support its export business to the US. The company is headquartered in Qingdao, with branches in Shandong Province, the United States, Africa, and Southeast Asia. With the company's manufacturing base in Shandong, the supply is sufficient, and the quality is well-recognized. The products are sold globally, of which the US market accounts for 12%, followed by Europe and Australia, while the business in South America, Africa, the Middle East and Russia also increased steadily.
The US is the world's largest market for tires, but many of the buyers are not strong enough to take credit, while qualified buyers often need open terms, which brings high risks and financial pressure to suppliers. Therefore, when the company learned that Tradewind, as a German headquartered trade finance company, provide attention to details, efficient services, flexible products and competitive price, they reached out to them hoping to obtain customized products from Tradewind to relax the company's tight capital turnover, and to get better understanding of the buyer's credit situation by leveraging the global capability of Tradewind, so as to ensure the smooth and safe development and global growth.
However, the impact of the recent trade policy has affected the tire industry when the cooperation was about to kick start. In order to lower the impact of tariffs, the company urgently adjusted its strategy and transferred its business to its branch office in Southeast Asia. Based on this situation, Tradewind made timely adjustments to the financing plan, and instead financed the invoices exported from Southeast Asia, and wired the funds to its account in US according to the customer's requirements. Now the cooperation with Tradewind has been smoothly carried out, and the rapid payment allows the company to obtain sufficient working capital. As the cooperation stabilizes, the client plans to add more buyers in order to better support its global development.
"Tradewind has extensive experience in the automotive and auto parts industry. Our global presence allows us to provide quality services to exporters around the world. We are willing to provide customized financing products for companies like this tire company. We use our profession in exchange of customers' safety in trade and stable development," said Ms. Li Fang, sales manager of Tradewind.
Tradewind (formerly DS-Concept) provides innovative international cash flow solutions tailored for global clients. Focused on the mid-market, its core products are non-recourse factoring and supply chain finance. The group has built an unrivaled reputation for the depth of its international finance expertise by maintaining a network of offices around the world including the USA, mainland China, India, Hong Kong, UAE, Turkey, Bangladesh, Pakistan, Iceland, Bulgaria, Hungary, Peru and its headquarters in Germany. By combining financing, credit protection, and collections into a single trade finance facility, Tradewind offers streamlined, flexible and best-in-class services.