|About the transaction: Peerless Plastics & Coatings|
|UKEF support||Export insurance|
Thetford-based Peerless Plastics & Coatings specialises in the production and application of hard coatings for plastic, with the largest coating capacity in Europe.
The company sells to customers across a wide range of industries, including aerospace, rail, automotive, construction and healthcare.
With ambitious plans for overseas expansion, the Department for International Trade introduced Peerless to UKEF after a visit by International Trade Secretary Elizabeth Truss MP.
When the company secured an order from a Polish manufacturer to coat lamp covers, the buyer requested credit terms, at which point, Peerless moved to protect themselves against the risk of non-payment.
However, when they couldn’t secure the cover they needed from the private sector, Peerless turned to UKEF, who provided an export insurance policy.
Peter Llewellyn-Stamp, Managing Director, Peerless said:
Without UKEF’s support we would have been unable to proceed with this important win and their insurance policy was crucial to ensuring the successful completion of this contract. Their support will continue to be crucial as we look expand our overseas footprint.
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Read the original advice at Foreign Travel Advice (UK)