XCMG says its Hong Kong treasury platform coordinated the teams handling financing for a 500-truck sale in Zambia.
The Chinese construction machinery maker said it signed the order recently. It described the transaction as its first of this kind in Southern Africa, where financing and settlement for the deal use renminbi.
XCMG said financing entered the sales process earlier than it would in a conventional installment arrangement. Its Hong Kong treasury platform brought sales, customer relations, trade and treasury functions together for the transaction, the company said.
Under the arrangement, the customer could complete the purchase while XCMG received the full sale amount in one payment, according to the company. XCMG said the structure lowered its financing costs and improved capital turnover.
The company did not name the buyer or financing provider, disclose the order value or financing terms, or explain how costs would be divided. It also did not specify the truck models or a delivery schedule.
XCMG said its offer included equipment-selection advice, operator training, spare parts and after-sales service, which it credited with helping secure the order. The company presented the combined equipment and financing approach as a possible fit for future road construction, mining and infrastructure projects.
