FINANCE: Asset Finance Tailored For Industry
Recent Western Cape Business News
“However,” says Dudley Flügel, Nedbank Business Banking’s Business Manager, Specialised Asset Finance, “this is a good time to invest in new equipment. Interest rates are low and the exchange rate is favourable. If clients feel that they have the orders to support the cash flow needed to invest in new equipment, they should grasp the opportunity presented by the current circumstances rather than to struggle on with equipment that is long overdue for replacement.”
Flügel’s division has a team with the necessary industry experience and expertise to advise clients and to tailor finance solutions suited to the client’s particular trading environment. His experience of the industry spans 28 years: 15 years in the printing industry and 13 years in banking providing specialised asset finance to the printing, packaging and plastics industries. He has a thorough understanding of these industries and continues to keep abreast of developments through his membership of the respective industry associations. Clients in these industries trust him because of this understanding and his handling of all transactions. As is the case in all of Nedbank’s Business Banking transactions, asset finance solutions are structured to be cost effective, flexible and tailored to suit the financial structure of the business.
“The printing, packaging and plastics industries are all capital intensive industries,” Flügel explains. “The current environment is cautious and our clients are not getting the volume of orders they need to justify the capital outlay on expensive new equipment. I believe that the tough trading conditions prevailing in 2010 will continue into 2011. However, those who can afford to invest now should consider taking advantage of the current opportunities.”
In addition to providing the necessary finance for capital equipment, Nedbank Business Banking has a dedicated Capital Equipment Imports department that provides a practical end to end service including exchange control matters, forward exchange contracts, letters of credit and foreign payments while managing the importation process from beginning to end. And the Bank’s services are underpinned by their decentralised business model, which means that client service teams operate in each region in an empowered and cohesive manner to deliver to clients and effectively partner with them as their banker. This unique offering leaves the client free to focus on the day to day management of their business.
The combination of Flügel’s industry specific expertise and the provision of tailor-made asset finance solutions allows Nedbank Business Banking to strive to partner with the printing, packaging and plastics industries to ‘make things happen’ as the slogan says.
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