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News

26.06.2015

EXIAR insures supplies of fibreglass heat and sound insulation construction materials to the CIS

The Russian Agency for Export Credit and Investment Insurance (EXIAR) and KNAUF Insulation have signed a one-year comprehensive export credit insurance contract.

Under the agreement, insurance will be extended to shipments of Russian heat and sound insulation construction materials, with the declared amount of supported exports currently standing at approximately USD 1.78 million. There is also the option to expand the insured portfolio at a later date.

Comprehensive export credit insurance protects Russian companies against the risk of non-payment by foreign buyers due to commercial or political reasons. Insurance cover extends to recurrent shipments of similar goods to customers based abroad, in which payment has been deferred.

KNAUF Insulation, a key division of the international manufacturing group KNAUF, is a global leader in heat insulation materials and a recognised expert in their systemic use. The company’s divisions are located in more than 35 countries and its 40-plus production facilities worldwide meet the constantly rising demand for energy-efficient materials. The turnover of the company – which employs over 5,500 workers – is over EUR 1.4 billion.
KNAUF Insulation has operated in Russia since 2007. The company has developed the unique innovation binder technology ECOSE® to create phenol formaldehyde-free sound and heat insulation construction materials using adhesives sourced from natural components.
The company owns two large mineral wool insulation plants in Russia – in Stupino (Moscow Region) and Tyumen (Tyumen Region).
KNAUF Group has been a major investor in Russia’s construction industry for over a decade.

The Russian Agency for Export Credit and Investment Insurance (EXIAR) was established in 2011 as an open joint-stock company. 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 31 billion. Since November 2014 Eximbank of Russia, a Russian specialized government–owned export–import bank, has been a subsidiary of Russian Agency for Export Credit and Investment Insurance (EXIAR).

External Communications EXIAR