News

Since 2005 Midt Factoring has been ownet by ebh bank a/s in a mutually rewarding relationship. However, a still more globalized business environment means that a platform with a more international outlook is required.

Midt Factoring will therefore during the month of May get a new majority shareholder as Coface Deutschland AG increases it stake to 75%.

Part of a competent family
Coface is a global player in the areas of credit insurance, company information and ratings, receivables management and factoring – with more than 6,000 employees in 65 countries. In Denmark Coface until now has had a small staff in Copenhagen focusing on credit in-surance only.

With the investment in Midt Factoring the activities in Denmark are expanded into factoring. At the same time Coface gains access to the Nordic factoring market.

Impact on our customers
The change of ownership will have no practical impact on our customers. We will still be the same staff and management in Ikast and Copenhagen.

Looking towards the future we expect to develop even more services using input from our new colleagues. Our strong experience in factoring combined with the experience and clout added by Coface creates the right environment for further growth.

Click on the link to download the press release.

All Danish financial institutions, including Midt Factoring, are closed on 2 May 2008.

MF Online will be available as usual - and we're ready to take your calls from Monday 5 May.

On 5 November 2007, a strategic agreement was signed in which ebh bank a/s sells 10% of its shares in Midt Factoring to Coface Holding AG, the global provider of credit insurance and factoring services. Closing took place on 21 December 2007. Under the terms of the agreement, Coface also acquires an option on the majority of shares exercisable in 2008.

More details are available in the press release.

On Wednesday 12 December Midt Factoring held the traditional Danish topping-out ceremony for the building project at our Ikast main office.

Since the first turf was cut in May skilled craftsmen have worked hard to get the first part of the 16,00 sqm. new building ready. And when the walls and roof were in place it was time to celebrate.

On this bitterly cold and dark winter afternoon the ceremonial poles with garlands were raised on top of the building. Speaches were held by Ikast mayor mr. Carsten Kissmeyer, our CEO mr. Vagn Thorsager, and CEO mr. Laurits Pedersen from C.C. Contractor, who handles the project. And craftsmen as well as Midt Factoring staff joined for the traditional hot sausages and beer.

Click here, here, and here to see a few pictures from the event.

Our office in Copenhagen is moving - as of Monday July 23 we'll be in place in new and improved surroundings, specifically in Vester Søgade in the city center.

The relocation will take place during a weekend and will not affect our customers and partners.

Click here to get our new location details - our phone and fax numbers remain unchanged.

For several years Midt Factoring has experienced strong growth and the space in our Ikast headquarters has been too narrow for some time.

On Wednesday 16 May the first turf was cut in a project, where we both enlarge the office building and rebuild the existing facilities. When the project is completed in the summer of 2008 we will have over 3,200 square meters of office space.

Click here and here to see a few pictures from the event.

Today Midt Factoring launches a series of new functions on our client portal MF Online.

The functions enables our clients to simplify the daily routines of their factoring service by making it possible to handle tasks online that have previously required contact to our customer service department by phone or email.

Our clients will be presented with an overview of the volume of tasks that we carry out on behalf of their company.

We also make is easier for our clients to contact us; a single click makes it possible to send a message to us and automatically attach all relevant background information.

Together the new functions make the day-to-day handling of factoring very easy - and they represent yet another step towards IT-based cooperation.

On Monday 13 November 2006, we´re launching a new and improved version of our client portal MF Online.

The appearance of MF Online will be the same - the colours and layout will continue with minimal changes which most users will not even notice.

The changes are essentially of a technical nature. Over the past few months we´ve made efforts to update MF Online to state-of-the-art IT tools. This improves our options for developing new functions which will further simplify the future partnership with our clients and their debtors.

At the same time, we´re introducing additional electronic communication with our clients through new features based on Digital Signature, which is the official Danish standard for electronic signatures. With digital signatures, traditionally manual processes can be performed faster and more simply.

If we may say so, we are one of the first factoring companies in the world to start using this kind of technology.

BCR Publishing, the leading provider of finance industry market intelligence, has published an article about the rise in factoring volumes in the Nordic Countries. Click here to read the article.

On January 18 2006 Midt Factoring joined Factors Chain International, a global network of factoring companies. Since May 2005 Midt Factoring is also a member of the International Factors Group. Together, the members of the organizations represent a range of the world's largest and most respected financial institutions.

The decision to take active part in both major international factoring organizations makes it possible for Midt Factoring to support global trade with local presence.

A press release is available here.

As of 1 September 2005 Midt Factoring has employed Jan Becher as Vice President, Business Development.

Jan Becher's most recent position was Secretary General with International Factors Group (IFG) i Brussels. International Factors Group is an international organisation of factoring companies and factoring related companies. During Jan Becher's leadership IFG has considerably increased its number of members and its geographical presence, and is now comprising approx. 75 partners in more than 40 countries.

Previous to this position Jan Becher has assumed several leading positions in the Danish factoring sector, including Managing Director of Unifactoring (presently Nordea Factoring) during the 1990'es.

Midt Factoring signs co-operation agreement with Dansk Supermarked Gruppen (DSG) - the agreement enables the group's suppliers to use factoring.

The new co-operation between DSG and Midt Factoring is expected to be implemented during the autumn of 2005.  The co-operation will mean an administratively more secure and effective handling of invoice assignments. This has been a key factor for DSG who has not previously accepted third party assignments of receivables from their suppliers.

Click here to read more about the co-operation and to submit your contact information.

Click here for the press release.

As of 1 March 2004 Midt Factoring has a new director, CEO, Vagn Thorsager.

Mr. Thorsager has had a long career in the banking sector, and over the years he has had a number of positions in both Andelsbanken, Unibank and Nordea. Most recently he held the position of area director at Nordea in Viborg.

of customer information. Log on to MF Online and read more...

Several new features will give our clients more options. Log on to MF Online and read about the possibilities or call for more information.