TORONTO -Friday 15 May 2020 [ AETOS Wire ]
(BUSINESS WIRE)--
GlobalTrade Corporation (GTC) has announced today that PORR AG (PORR),
one of the largest construction companies in Austria, has selected its
@GlobalTrade™ Multi-bank Trade Finance Platform for managing its bank
guarantees and surety bonds. PORR employees will use the Platform to
access transactions on-line from any place in the world and
electronically connect PORR Treasury with its financial institutions.
PORR will manage outgoing transactions with @GlobalTrade™ Guarantee Issuance System http://www.globaltradecorp.com/solutions/standby-lc-guarantee-issuance/ and incoming transactions with @GlobalTrade™ Guarantee Receipt System http://www.globaltradecorp.com/solutions/standby-lc-guarantee-receipt/.
‘The decision to adopt an electronic
platform for the management of guarantees has been made before the
Covid-19 pandemic,’ said Alfred Gabler, Head of Group Treasury PORR AG.
‘With the new reality and the need to access real time information from
outside the office as well as to digitize as many financial processes as
possible, those platforms have become a must have for every company,’
added Gabler.
‘With the need to work from home, our
clients have told us how much they appreciate the ability to access
their trade finance transactions remotely. Being able to create, approve
and send new transactions to their financial institutions
electronically is a great advantage’, said Stephen Andersen, GTC’s Vice
President Professional Services & Client Support. ‘We are honored
that PORR has trusted GTC to start the project under the Covid-19
restrictions. GTC has been implementing projects remotely for many
years, which allows us to serve our clients efficiently even during
these challenging times,’ added Andersen.
About PORR
Driving innovation for excellence –
that’s what PORR stands for since already over 150 years. With around
20,000 employees and a production output of around EUR 5.6 billion (as
at 31.12.2019), it is one of the largest construction companies in
Austria and among Europe’s leading providers in the sector. As a
full-service provider, PORR offers every service in building
construction, civil engineering and infrastructure construction,
covering the entire value chain. PORR focuses on its home markets
Austria, Germany, Switzerland, Poland, Czech Republic, Slovakia and
Romania. On selected international project markets such as in Norway,
the UAE and Qatar, PORR focuses on export products in tunnel
construction, railway construction and civil engineering. The PORR share
is listed in the prime market of Vienna Stock Exchange. Find more
information at porr-group.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200514005634/en/
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