RE: WHY ?24 Nov 2020 12:04
How can this strategic agreement with the USA cannot be seen ONLY as a positive move for Syme beats me? When this RNS came out on Oct 22nd i immediately doubled my holding. And i don't do that on impulse ? A lot are missing the plot here !
In August 2020 the US Census Bureau for manufacturing and trade reported that US inventories in that month were approximately $1.9 trillion;
· since no specific statistics are published for inventory-based financing, from the above The Trade Advisory believe a conservative estimate of the inventory finance market in the United States to be in excess of $1 trillion - that is, approximately half of the value of US inventories and less than half of the value of Commercial & Industrial loans (excluding real estate).
This Strategic Agreement is an important step towards the roll-out of Supply@ME's platform in the United States, commencing with an inventory monetisation pilot programme involving manufacturing and retailing client companies from The Trade Advisory's commercial network.
https://www.investegate.co.uk/supply--me-capital--syme-/rns/strategic-agreement-to-launch-in-the-united-states/202010221009559219C/
Alessandro Zamboni, SYME Chief Executive, commented, "The United States is an enormous potential market for Supply@ME. Our Platform can play a distinctive role supporting US companies via innovative, scalable transactions. Similar facilities have recently been announced by Bank of America and Macy's. This is further evidence that our inventory monetisation platform can really support corporates to manage their working capital more efficiently and continue to grow.
I'm delighted that Mr Brown and his business, The Trade Advisory, share my vision, and recognise the impact that Supply@ME can have in the United States."
Plans for SYME's international expansion are at the core of the Company's business strategy. The Company will continue to update investors as activities progress.
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