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New Funding Announcement

Buyer financing division

November 13, 2020

Elevate Export Finance Corp. News, Oct. 13 - Canadian exporter, Husky Injection Molding Systems secures important, strategic new customer sale with specialist support from Elevate Export Finance Corp.

Elevate Export Finance corp. (Elevate) is pleased to announce funding for Husky Injection Molding Systems (the exporter) new customer sale of a new mold for preforms system to SMI Colombia S.A.S (the buyer) - subsidiary of San Miguel Corporation Miguel Industries Pet. The buyer is seen as a strategic and important customer for Husky who has faced stiff competition from European suppliers offering innovative financing options.

Husky had been at a competitive disadvantage because they were unable to offer attractive vendor financing to San Miguel Industries Pet. Using an innovative and customized approach, Elevate - in partnership with Export Development Canada | Exportation et développement Canada - EDC - developed and brokered a winning solution that worked for all parties involved in the transaction.

San Miguel Industries Pet is a Colombian company and is widely seen as the market leader of packaging solutions throughout the Andean, Central America and Caribbean Region for its high quality and standards. It is considered the largest plastics manufacturing company in South America and highly regarded for its focus on providing recycled products. For example, San Miguel Industries Pet has the technology and facility to produce 100% recycled resin bottles.

Elevate thrilled to provide the financing for Husky and Francisco Garica, head of business development for Elevate said, “This customer has remained elusive for Husky of stiff European competition. I am proud to say that our quick and customized finance solution was a key enabler for the sale .”

Based in Ontario, Canada, Husky is a global leader providing innovative industrial technology to the plastics processing industry. Offering a full, end to end solution, Husky designs, manufactures and integrates its solutions to integrate its range of injection molding equipment, which includes machines, molds, hot runners, auxiliaries and integrated systems. Husky provides additional value-added services which includes, pre-form development, part design, factory planning, customer training, systems integration and complete asset management. The company has 40 offices and 4,000 people in 100 countries. (Kevin Fairs)

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