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Originally published:
Feb-24-2009
Buffalo, NY – The ABC Companies, Inc. (ABC) and Finance Credit and International Business (FCIB), who have been working together to introduce commercial credit management practices to business and government officials in mainland China, today announced the completion of their China market licensing agreement.
ABCredit, LLC, a subsidiary of The ABC Companies, was licensed by FCIB in 2004 to establish a Chinese presence for FCIB, doing business as FCIB-China. Since that time, numerous Chinese enterprises have participated in FCIB-China conferences, training programs, and membership meetings organized throughout China by ABC staff and resources.
The original intent of the license was to establish a separate, local Chinese-registered entity in which Chinese firms could become members. ABC and FCIB, however, have jointly determined that it is best at this time to offer Chinese firms direct membership in and support from FCIB’s headquarters, based in the United States. This is the successful model followed by FCIB's members in the US, Europe, and elsewhere.
"We have been proud of the opportunity to represent FCIB in China during this formative and exciting time for Chinese business," remarked David Herer, CEO of The ABC Companies, Inc. "Now the Chinese members and contacts we've developed shall convene with their overseas counterparts on an equal footing, as full members of FCIB, to exchange ideas and form relationships through FCIB’s global network and programs across the world."
Speaking on behalf of FCIB, President Aneta Spilman CAE, stated, "We want to thank ABC for their pioneering work since 2004 to establish FCIB's local presence in China, where international trade credit is now becoming more fully appreciated. The conferences and relationships they cultivated there have given us a strong foundation for serving the needs of FCIB's Chinese membership."
About The ABC Companies, Inc. (ABC)
The ABC Companies, Inc. is a respected receivable management firm headquartered in the United States with offices in Buffalo, NY; Shanghai, China; and Geneva, Switzerland.
ABC is the parent of ABC-Amega Inc., a provider of industry-specific credit information, transparent first party receivable collection support, and third party commercial debt collection focused on helping companies achieve improved efficiency, greater effectiveness, and increased cash flow.
For more information on The ABC Companies, Inc. or ABC-Amega Inc., contact David Herer, CEO, (716)878-2802 or visit the company web site at www.abc-amega.com .
About FCIB
FCIB, founded in 1919, is an organization devoted to international trade and to assisting global companies and exporters to attain best practices in accounts receivable management and trade finance.
The organization enjoys an international reputation as a business educator and premier provider of business credit intelligence to exporting companies of every size — from small and midsize manufacturers to Fortune 500 multinationals. It has offices in the United States and Europe, and maintains operations in Canada. FCIB is the recipient of the prestigious U.S. President’s “E Star” Award, recognizing the association’s contributions to the export expansion program of the United States.
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