A small Yorkshire-based company has won a multi-million dollar contract to supply and commission a soya bean processing plant in south-eastern Kazakhstan with help from the Export Credits Guarantee Department (ECGD) – the UK’s official export credit agency.

Insurance facilities from ECGD have opened the doorway into the central Asian country for the small oilseed processing equipment manufacturer Europa Crown Ltd (ECL). ECGD is providing a six-year export credit guarantee on a bank loan from Deutsche Bank to cover the payment risk involved in the US$3.5 million (£1.95 million GBP)) contract won by ECL, which is based in Hessle, east Yorkshire.  

Mike O’Brien, Minister for Trade, said: “This deal is excellent news for both Europa Crown Limited and ECGD.  It is the first project that ECGD has underwritten for this small firm which employs just 26 people.  It is also the first contract that ECL has clinched in Kazakhstan.

“I hope that with ECGD support ECL goes on to win further significant contracts like this one.”

Open Joint Stock Company VITA awarded the contract to ECL to supply and commission the 450 metric tonnes per day preparation, extraction and desolventising plant in Almaty in south-eastern Kazakhstan.  

Phil Blenkiron, Managing Director at Europa Crown Ltd, said: “Although the contract value is small, ECGD’s involvement has been fundamental to small companies like ourselves entering new markets.”

And he added: “Our customer’s future plans to develop new products such as high protein feedstock may result in further contracts for us.”

Kris Van Broekhoven, at the Structured Trade and Export Finance Team at Deutsche Bank, said: ”Deutsche Bank has an excellent trade finance reputation in Kazakhstan and this is the first export credit for the Development Bank of Kazakhstan.

“We plan to use the legal platform we have established with the bank to finance other UK contracts in Kazakhstan.”

ECL specialises in the design and manufacture of vegetable oilseed processing, and edible oil refining equipment. The company has entered the Kazakh market at a time when the economy is thriving, following a period of increased oil production combined with the recent plateau in high oil prices.

NOTES TO EDITORS

1. ECGD, the Export Credits Guarantee Department, is the UK’s export credit agency. A separate Government Department reporting to the Secretary of State for Trade and Industry, it has more than 80 years’ experience of working closely with exporters, project sponsors, banks and buyers to help UK exporters of capital equipment and project-related goods and services. We do this by providing:

·Help in arranging finance packages for buyers of UK goods by guaranteeing bank loans;

·Insurance against non-payment to UK exporters; and,

·Overseas Investment Insurance - a facility that gives UK investors up to 15 years’ insurance against political risks.

2. More information on ECGD’s products, along with other press releases, is available on its website www.ecgd.gov.uk

3. ECL is a British company which has its headquarters in Hessle, east Yorkshire. For more details about the company, visit www.europacrown.com

4. For more information about this deal, contact Phil Blenkiron, Managing

Director, Europa Crown Ltd, on Tel. No. 01482 640099.

PRESS ENQUIRIES:

Azara Bibi, ECGD Press Office, Tel: 020 7512 7421

(Out of Hours: 07790 887852)