Providing materials and services for the West African construction market since 1919
Specialized since the beginning in the realization of construction elements, K3 now offers the complete range of services and materials for the construction field, combining the skills of an engineering company with those of a purchasing office and an agency offering financing solutions.
Franca Comazzi (left) and Jose Comazzi (right), Takoradi Airport, 1936
In 1919, after WW1, Pietro Comazzi and his brother Giuseppe Comazzi left their hometown Roasio in Italy and embarked on a journey to the Gold Coast that was going to mark the beginning of the Italian establishment in Ghana.
During the course of the following century, the family has ran and operated under several companies, all of which have contributed to the development of the country by completing several successful projects in the region and beyond.
With a vast experience in bringing Italian content to the Ghanaian market, k3 CPS was incorporated with the objective to offer the benefits of this expertise to Italian exporters as much as to buyers of Italian building materials and technologies located in Ghana, by providing engineering solutions to align expectations of buyers and sellers, manage procurement processes and provide financing solutions to relive the buyer from cash flow burdens without impacting their liabilities while simultaneously insuring payment to the exporter.
The link between idea and construction site
Before materials are brought to the construction area, a building is just a project. Before the operative teams go out into the field, a building is a precise architecture of studies and calculations.
K3's engineering department works on the project, taking good care of this preliminary phase: from the execution of the feasibility studies to the calculation of quantity take-offs, to the realization of design’s drawings and renderings. Coordination of the procurement department also falls in the responsibilities of the engineering department: the procurement of materials for the project can thus take place with the utmost precision, based on the specifications and quantities expressed by the project.
Challenges for the engineering department
For K3's engineering department, each project implies the undertaking of the most classic of all challenges: that of matching times and specifications concerning the most pressing of the variables involved - cost. It’s not just a matter of compromising factors; it requires the fine-tuning of all the variables that influence the project, and the construction site: such a fine-tuning can only be brought to reality by a long experience in the field. The goal is absolutely clear: to find the best solutions for the success of the project.
West Africa's construction market
Each building market has its personality, which derives from the mix of customer's culture, taste, and expectations. West Africa is no exception to this rule. Knowing the specific personality of a market means being able to anticipate the customer's wishes and desires, in order to propose the most suitable solutions for the realization of his project, while putting him in contact with a dense network of Italian and English suppliers.
Choosing K3 as a partner means choosing the practical knowledge of a market that only a long field experience can give: the one that allows K3 to choose the most suitable materials - taking into consideration both the installation and maintenance phases of the building - and to prevent any possible problems.
Generally considered one of the most complex steps of an entire construction project, procurement consists of "putting the pieces together" before the operating teams even go out on the field. It is a central element for any business strategy, and the difficulties that can be encountered are likely to be even greater if the supply is made on the international market.
An inattentive procurement is likely to increase the costs of materials, logistics, and services, to the point that these can erode the customer's profit.
A prudent procurement strategy
The elements to be considered in procurement are of the most diverse nature: not only the logistics and the financial aspects must be known in-depth, but also the interface between the different languages spoken by clients, suppliers and contractors, as well as the cultural barriers, potentially present between involved parties, require the right considerations. That's why only a structured and expert procurement strategy ensures the safe delivery of quality goods and services, at the right cost, and in full compliance with the deadlines.
A team of procurement experts
To achieve the best possible outcome, K3's procurement specialists choose the most qualified contractors, suppliers, and OEMs since the project's early stages, so that it is immediately clear what will be the role of each of them in the success of the project. The goal is to minimize the financial risk for K3's customers and suppliers, while increasing efficiency and simplifying decision-making processes throughout the life of the project.
Systematic management of the procurement phase allows K3 to be a strategic partner for its customers, as it could help them manage commercial relationships, determine the best suppliers, identify quantities and specifications, and standardize shipments. K3's procurement department also deals with the negotiation of terms, the execution of payments, and the resolution of disputes.
During the executive phase, a supervision team manages contracts, monitors payments, delivery times, and general compliance with the quantity and quality of materials and production processes.
Anticipating risk in international transactions
The key formula in international transactions is represented by risk management: regardless of the field of intervention - but this is all the more true in the construction field - factors of risk for the exporter can be determined by sudden reversals of political or commercial conditions of the countries towards which the transaction carries out; while buyer's risk is always linked to the non-delivery of materials, or to the delivery of the wrong or inferior materials.
Like all risks, that of non-payment is a challenge that has to be faced with appropriate financial instruments.
The benefits of risk mitigation
K3 has since the beginning implemented a rigid risk mitigation process: a procedure aimed at minimizing the chances that any of the financial steps of the project could suffer any kind of trouble. In the meantime, taking advantage of an export credit insurance covers the exporter’s risk: the contractual framework links payments to controls on the quality of goods.
Each control is carried out before shipment by certified inspectors, and detailed reports are sent directly to the buyer: his verification, and the consequent approval, will allow the materials to be sent.
Why resort to K3’s financial solutions?
The advantages of applying insurance to export credit are manifold, and include:
more competitive rates
unaffected balance sheets (no collaterals are required by the buyer)
K3 Construction Procurement Services SRL
Piazza Vittorio Veneto 15
13900 Biella (BI)
t.: +39 015 34834
K3 CPS UK
Unit 203, Second Floor, China House
401 Edgware Road, London, London NW2 6GY
t.: + 44 (0) 20 74672100
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