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News

24.11.2015

EXIAR insures shipments of starch products to Europe, CIS

The Russian Agency for Export Credit and Investment Insurance (EXIAR) and Amylco, LLC have signed a one-year comprehensive export credit insurance policy.

The insurance policy covers shipments of Russian-made starch products from Amylco. In this deal, EXIAR insured Amylco’s exports to the tune of approximately 20 million rubles. The insurance policy allows for expanding the portfolio of insured goods in the future.

Coverage under comprehensive export credit insurance is provided to a Russian exporter against the risk of non-payment by foreign buyers. The policy may also be transferred to a bank or a factory that would provide accounts receivables financing. The policy would cover delivery of goods and/or services that are made on credit terms, for a tenor less than 12 months to a number of foreign buyers that may be from different countries.

The Russian Agency for Export Credit and Investment Insurance (EXIAR) was established in 2011. EXIAR's mission is to support Russian high-tech exports by insuring export credits against commercial and political risks, as well as Russian investments abroad against political risks. Vnesheconombank is the sole shareholder of EXIAR. The agency's charter capital is RUB 43.5 billion. The State Specialized Russian Export-Import Bank (Eximbank of Russia) is a subsidiary of the Russian Agency for Export Credit and Investment Insurance (EXIAR).

Amylco LLC is a massive, innovative production platform for a variety type of corn starches, saccharide products and high-protein fodders. The company is responsible for the production of 25% of all starch syrups made in Russia. All items produces by the company are certified and meet the criteria of international standards. The company has also implemented the International Quality Management System ISO 9001:2008. Although the company rolled out its first product – starch syrup – in 2009, Amylco is now Russia’s second-largest producer of starch products. The factory can process 160,000 tons of corn each year. Amylco’s management team believes that innovation, competitiveness, and further development are the keys to the company’s continued success.

EXIAR External Communications