Deutsche Bank and Electrolux Major Appliances – North America (EMA-NA), an appliance manufacturer, have announced a joint programme to extend financial supply chain (FSC) solutions to EMA-NA suppliers. This co-operation between Electrolux and Deutsche Bank enables both parties to create an attractive FSC offering that benefits suppliers. The programme provides suppliers a low-cost source of funding by which they can convert their Electrolux receivables into cash through a true sale to Deutsche Bank.
Geoff Pollak, vice president, purchasing, EMA-NA, said: “After a careful selection process, we selected Deutsche Bank as our FSC partner. Through our collaboration, we are able to offer our suppliers the opportunity to leverage the strength of our balance sheet to help them thrive in today’s challenging credit environment. Our FSC programme allows suppliers – of all sizes – to grow with EMA-NA. Many of our smaller suppliers are in the same communities as our factories and our fellow employees.”
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