How FCI Helps Deliver Quality To Your Kitchen
Factoring in Hong Kong and the Guangdong Region of China has become an increasingly popular form of finance.Never has factoring been more important than now, in this period of economic uncertainty and tumultuous international financial markets.Factoring provides the financial flexibility and risk mitigation to help many manufacturers and exporters survive and even thrive in today’s economic climate.
Brand & Mark Industrial Limited (“B&M”) started its business in 2000.Based in Hong Kong with a manufacturing facility based in Shenzhen, the company engages in plastic injection molding, silicone molding, and metal stamping to manufacture nylon kitchen utensils, silicone bake ware, kitchen tools, cutting boards, and seasonal items for major retailers and OEM customers of leading brands in the North American and European markets.
The 220,000 square foot manufacturing facility in Shenzhen is filled with state-of-the-art injection, compressing, and stamping machines and employs over 600 well-trained and dedicated employees.The company is focused on providing safe, high-quality products who seek a stylish, functional array of products at a reasonable price.
With China entering the WTO, B&M employed an international management style coupled with an entrepreneurial spirit.The result was a small-scale factory evolving into one of the leading plastic and metal manufacturers in China with a heavy emphasis on export-oriented sales.With this new focus, came new challenges.
B&M sought the export factoring services of FCI member DBS Bank (HK) Limited, in 2006.The initial need was to obtain credit cover on USA customers, particularly those with long payment terms.Since then, B&M has added many new customers in the USA, Canada and Europe.DBS works in partnership with multiple FCI Import Factors to facilitate B&M’s international trade.
“This factoring service provides flexibility on cash flow which facilitates the substantial growth of B&M” states Stanley Fong, Managing Director of B&M.“The professionalism of Factors Chain International (FCI) also helps B&M recognize the financial strength of potential customers which further lowers the business risk of B&M.With the support of factoring services, B&M can step forward in expanding its customer base in a favorable way”, Mr. Fong added.
The next time you are preparing a meal in your kitchen, you might want to take a further look at that utensil in your hand.It just might be a B&M product, made in Shenzhen, China, and factored by FCI all the way to your kitchen.