CESCECompañía Española de Seguros de Crédito a la Exportación
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Therefore, Sacyr's new agreement with CESCE stipulates that Sacyr must use any compensation it receives from the arbitration process to pay off its debt with the state-owned insurer.
Under the new agreement, IBM will become a strategic partner of the CESCE Group and will help manage its business model transformation.
The agreement with IBM confirms our strategy for innovation, a key aspect to generate competitive advantage and provide better service to our clients," said Alvaro Bustamante de la Mora, President, CESCE.
Within the new framework, a number of annual meetings will take place with the participation of mathematicians from CESCE Group and researchers, industry experts, consultants and technical architects from IBM.
With this agreement, CESCE will have a unified and international corporate platform encompassing the whole Group's data, allowing the company to use the same names and segments for the entire business.
We are very satisfied that a company like CESCE has trusted IBM to participate in such an important project with the opportunity to realize innovation as a competitive advantage," said Marta Martinez Alonso, General Manager, IBM Spain, Portugal, Greece and Israel.
CESCE Group, an industry leader in risk management, is comprised of CESCE, a credit and guarantee insurance company; INFORMA D&B, a financial, sales and marketing information company; CTI, technology and management services; and CESCE International, with presence in 10 countries in Europe and Latin America.
CESCE s institutional role involves supporting Spanish component manufacturers, to which Enel Green Power has turned for the construction and development of the plants.
The total exposure of the Group consists of a balance of US $15 million, which is 100% guaranteed by the CESCE (Spanish Export Guarantee Commission), and a US $40 million shipbuilding loan granted five years ago which is 100% provisioned.
Mac Lewis, CNT's president and chief executive officer, commented, "We are delighted to add IPM and CESCE to our growing list of independent distributors.
Peter Dixon, CNT's vice president of international, noted, "Both IPM and CESCE have an excellent reputation with the types of customers who can benefit from the use of our CHANNELink line of extended channel networking products.
CESCE is headquartered in Lisbon, Portugal and has been a distributor for Storage Technology Corporation since 1991.