The rise of the international freight carrier Sonora sales, bank Citadel increased the company’s factoring line from 800,000 to 1.4 million euros.
Increasing the factoring limit will provide the company with financial resources for the expansion of daily economic activities, including export transactions.
“The Covid-19 crisis has also affected the logistics industry. While the passenger transport sector has been almost completely paralyzed, freight transport is experiencing marked changes in transport prices and a reduction in the availability of transport units. Transportation costs on some routes have increased 3-4 times, so it is necessary to look for logistics solutions to optimize costs. As industry leaders, our task now is to use the wide range of services and the knowledge of our team to find the most advantageous mode of transport for each customer – to find out whether it would be more advantageous for the customer to change the existing mode of transport, combine several modes, organize cargo consolidation or look for other solutions. The advantage of Sonora is the wide range of vehicles, thanks to which the companies of the Sonora Group are currently experiencing an increase in turnover, ”reveals Jānis Mozga, Chairman of the Board of Sonora.
“Sonora is a company with extensive experience in the industry, which gives knowledge to predict future processes and intelligently address current challenges. Anticipating that the pandemic would lead to fluctuations in service prices, the company has already introduced new logistics solutions as a precaution. The key to the company’s success is the introduction of new solutions and continuous development, thus promoting competitiveness and growth, ”says Mārtiņš Bočkāns, Head of Citadele’s corporate customer service department in Latvia.
Sonora was founded in 2000, initially providing cotton products from Central Asia to Europe and the Baltic States. With the growing demand for transport and logistics services, the company became a provider of full-service freight and logistics services.
Sonora provides freight and logistics services – road freight, sea freight, bulky and non-standard freight, air freight, customs and warehousing.
The company’s turnover in 2019 was 15.733 million euros, but the company’s profit was 65,292 euros.
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