Shaanxi Sirui’s factory in Baoji City will use Rautomead’s technology to produce complex copper chrome zirconium alloy rods.
To support its overseas sales activity, Rautomead used the Supplier Credit Financing Facility, which allows UK companies to get paid on dispatch for their exports whilst letting buyers benefit from deferred payment terms.
To secure the deal, UK Export Finance provided a guarantee to the London Forfaiting Company, enabling the lender to pay Rautomead 85% of the contract value after dispatch and collect repayments from Shannaxi Sirui over five years.
Established in 1978, Rautomead has evolved to become one of the leading suppliers of continuous casting technology for non-ferrous alloys.
The company’s machines are used internationally to deliver continuous casting of copper wire and cable, alloy wire, engineering alloys, precious metals, copper magnesium and copper chrome zirconium rod.
Rautomead has aimed to play its part in modernising the non-ferrous metals industry with its many end-uses and applications by casting at near net shape to minimise processing costs.
The firm has also prioritised casting an ever increasing range of alloys being developed by the automotive, medical and communications industries.
UK Export Finance works with banks to provide flexible, innovative, and competitive financing solutions. The government agency supports UK exporters, international project sponsors and buyers of UK goods and services.
Rautomead www.rautomead.com
UK Export Finance www.great.gov.uk/project-finance
