Success Story Herrenknecht

“Commerzbank is a reliable strategic partner, always pro-active and focussed on finding a solution. They help us with export financing and any banking services we need, especially in international business. This is underpinned by having a single point of contact, plus their professional expertise and high-quality support.”

Dr.-Ing. E. h. Martin Herrenknecht
Herrenknecht AG

Export finance: Flexible solutions in challenging markets

Herrenknecht AG is a world leader in the market for mechanised tunnelling technology and a reliable partner in many major infrastructure projects around the world. Among the best known are the Gotthard Base Tunnel in Switzerland which was completed recently, and the tunnel under the Bosphorus in Istanbul. In many metropolitan areas, underground rail or supply and waste tunnels have been rebuilt using Herrenknecht technology. Herrenknecht employs around 5,000 highly qualified staff worldwide.

The background

With 64 subsidiaries around the globe, Herrenknecht is well positioned internationally, both in established markets and in many emerging markets too. Herrenknecht equipment has to date been used in projects in around 90 countries. In many newly industrialised and developing countries, some contracts only come to fruition when Herrenknecht is able to offer a financing solution alongside its machinery.

The requirement

Herrenknecht sometimes offers export financing solutions when it negotiates with potential international buyers of tunnel boring machines. These solutions have to be both tailored to individual needs and also take into account and safeguard against the possible risks of conducting business, especially in challenging markets.

The solution

In such instances, Commerzbank is able to use its knowledge of global markets, its decades of experience and expertise as well as its international network to provide a comprehensive range of services covering all aspects of cross-border business. Each solution is based on evaluating the different financing and hedging alternatives. In addition, information is shared with the customer concerning the documentation and guarantee business, which is done on a case-by-case basis.

What our customers say