Annual report 2007 - Euler Hermes
Annual report 2007 - Euler Hermes
Annual report 2007 - Euler Hermes
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United States<br />
Acquisition of a debt<br />
collection agency<br />
23 January. <strong>Euler</strong> <strong>Hermes</strong> acquired United Mercantile Agencies<br />
(UMA). Founded in 1917, UMA is based in Louisville, Kentucky,<br />
and has two regional subsidiaries, one near New York and another<br />
in San Francisco, California. UMA offers a broad range of trade<br />
receivables management services, namely debt collection, outsourced<br />
trade receivables management and international debt collection.<br />
8 – ANNUAL REPORT <strong>2007</strong><br />
Highlights<br />
of <strong>2007</strong><br />
Israel<br />
Acquisition of a stake<br />
in the Israeli market leader<br />
8 March. <strong>Euler</strong> <strong>Hermes</strong> acquired one third of the capital of ICIC, Israel’s leading<br />
credit insurance company with a turnover of €16 million and a market share<br />
of around 55%. ICIC will therefore be able to improve the quality of the services<br />
it offers to its exporting clients. This acquisition will strengthen <strong>Euler</strong> <strong>Hermes</strong>’<br />
position in the Mediterranean region.
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