Treasurers of companies globally are increasingly leveraging the opportunity to transact foreign exchange (FX) and other transaction types online in order to obtain competitive bids from multiple banks, achieve higher levels of straight-through-processing (STP) and increase the auditability of decision-making. Jochen Hörth, Head of Treasury of Coutinho & Ferrostaal GmbH talks to the Editor about the company’s use of electronic dealing.
Could you give us an overview of your company and its activities?
Coutinho & Ferrostaal was founded on 1 January 2008, the merger of the steel trading activities of CCC Steel GmbH & Co. KG and the Ferrostaal Metals Group. The merged company was recently wholly acquired by Grupo Villacero.
As a globally positioned service provider in the international steel trade, Coutinho & Ferrostaal is a leader in the industry. With more than 300 employees at 56 locations in 34 countries, the firm has comprehensive expertise in all major steel markets, and procures and markets steel in every region of the world. In addition to trading crude steel, semi-finished and other miscellaneous steel-related products, it offers its business partners an integrated and customised package of value-added services covering the entire metals supply chain, from exploring new markets to financial engineering to logistic services.
Coutinho & Ferrostaal has a central treasury function based in Hamburg, Germany, and focuses primarily on cash management and foreign exchange hedging.