Recticel was looking for local funding to set up production facilities in China. Thanks to the KBC branch in Shanghai, Recticel was able to obtain local funding from a financial partner that knows the company through and through.
Els Dumortier, Senior Banker KBC Corporate Banking
KBC focuses on home-market clients in Belgium and Central Europe. We support these companies at home and abroad.
If a company is looking to expand its activities internationally, management needs to be aware of the local legislation and of the cultural and financial differences. Working with a local financial partner is therefore a great advantage, because of its expertise regarding the local market. It is a double advantage if that partner is also a trusted Belgian bank which knows the company through and through, because it saves the company having to build a new relationship with a foreign banking partner.
Recticel is a typical example of a home-market client with a strong international presence. KBC was able to fund the company’s expansion in China locally thanks to the KBC branch in Shanghai.
Recticel is crossing borders
The Belgian listed company Recticel is an international player active in the insulation, bedding, elastic foam and automotive sectors. Recticel produces and supplies high-quality polyurethane trimming and upholstery to the automotive industry in China. To enable it to operate close to its customers and avoid transportation costs from Europe, the company needed to set up local production facilities in China. Recticel was keen to use local funding to finance the expansion.
The above film clip contains a report from Kanaal Z in which Recticel talks about the partnership with KBC Corporate Banking.