United Mexican States/NEXI Provides Reinsurance to Support Export of Hot Strip Mill Complex to ArcelorMittal Mexico

Jan 18, 2019

Nippon Export and Investment Insurance

Nippon Export and Investment Insurance (NEXI: Chairman and CEO: Kazuhiko Bando) has decided to provide reinsurance on export credit provided by Oesterreichische Kontrollbank Aktiengesellschaft (OeKB), Austria’s export credit agency, for the export of Hot Strip Mill Complex to ArcelorMittal Mexico. This reinsurance will be offered based on the reinsurance agreement concluded between OeKB and NEXI on July 1, 2003, as second transaction underwritten under the agreement.

With the reinsurance, NEXI will cover a financing portion provided by OeKB to support the export of Hot Strip Mill Complex manufactured by Primetals Technologies1. An Austrian subsidiary of Primetals Technologies is also engaging in the export as prime contractor, as well as German and Japanese subsidiaries of Primetals Technologies and an Italian manufacturer as sub-contractors. Furthermore, four export credit agencies including Austria’s OeKB, Germany’s Euler Hermes, Italy’s SACE and Japan’s NEXI will jointly support the Primetals Technologies’ export.

NEXI will continue to actively support Japanese companies in the expansion of their business internationally through cooperation with overseas institutions by providing reinsurance.

Contact: Infrastructure Group, Structured and Trade Finance Insurance Department
Tel: +81-(0)3-3512-7674

1 Primetals Technologies is a joint venture company of Mitsubishi-Hitachi Metals Machinery and Siemens VAI Metals Technologies, which was established in January 2015.