AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
On 11 June 2014, the German Eximbank KfW announced it would provide an export credit worth 140 million EUR with a duration of 12 years for the export of a German modern production line to the Turkish train wheel manufacturer Kardemir Karabük Demir Celik Sanayi ve Ticaret A.S.
The production line is produced by the traditional German press manufacturer Schuler from Göppingen and shall be worth over 90 million EUR.
The transaction shall be jointly insured by the German insurer Euler Hermes and the Italian export credit agency SACE, as - according to the press release - Kardemir shall also finance with this credit the purchase of an Italian bar and wire rod mill.
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