Electrolux Major Appliances – North America and Deutsche Bank to Offer a Financial Supply Chain Program to Suppliers
Deutsche Bank and Electrolux Major Appliances – North America (EMA-NA), a leading appliance manufacturer, today announced a joint program to extend Financial Supply Chain (FSC) solutions to EMA-NA suppliers. This strong cooperation between Electrolux and Deutsche Bank enables both parties to create an attractive FSC offering that benefits suppliers. The program 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, “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 program 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.”
Jonathan Richman, Head of Sales – Trade Finance, North America, & Global Product Head, Trade & Financial Supply Chain, Deutsche Bank, said, “Deutsche Bank is pleased to partner with Electrolux to support EMA-NA’s growth while enhancing its relationship with core suppliers in North America and globally. Electrolux suppliers are offered a new source of liquidity along with an effective and flexible tool to manage their cash flow needs. Deutsche Bank will work closely with EMA-NA to build out this FSC program.”
