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EFIC helps textile printer manufacturer to expand exports
08 Dec '09
2 min read
Export Finance and Insurance Corporation(EFIC) has helped Rimslow Global Pty Ltd, a leading manufacturer of digital textile printing machinery, to clinch new export orders at the world's largest exhibition for screen and digital printers.
Located in Hallam in Melbourne's outer south-east, Rimslow exhibited its new Steam-XL high-speed inkjet fabric printing machine at FESPA 2009 in Amsterdam in May. The company achieved sales of the Steam-XL and other machines to customers in Tunisia, India and Brazil.
EFIC, Australia's export credit agency, provided a working capital guarantee of $78,000 to Rimslow's bank, ANZ, to help the company expand its export markets.
EFIC's guarantee, known as EFIC Headway, enables eligible small and medium-sized exporters like Rimslow to access additional working capital from their bank, without requiring further security.
'FESPA 2009 was a major marketing opportunity for Rimslow, but we had to outlay a large amount of capital to develop two machines and transport them to the exhibition,' said George Sebek, Rimslow's managing director.
'The working capital assistance from EFIC and ANZ helped alleviate the strain on our cash flow and enabled us to secure several new export deals,' said Mr Sebek.
'EFIC is delighted to renew its support of Rimslow after providing export finance to the company some 10 years ago,'said Angus Armour, EFIC's managing director. 'Rimslow's success at FESPA 2009 in a tough economic climate is a testimony to their innovative technology.'
'Through EFIC Headway, we work with Australia's leading banks to help SME exporters overcome working capital shortfalls and achieve further international success,' said Mr Armour.
Located in Hallam in Melbourne's outer south-east, Rimslow exhibited its new Steam-XL high-speed inkjet fabric printing machine at FESPA 2009 in Amsterdam in May. The company achieved sales of the Steam-XL and other machines to customers in Tunisia, India and Brazil.
EFIC, Australia's export credit agency, provided a working capital guarantee of $78,000 to Rimslow's bank, ANZ, to help the company expand its export markets.
EFIC's guarantee, known as EFIC Headway, enables eligible small and medium-sized exporters like Rimslow to access additional working capital from their bank, without requiring further security.
'FESPA 2009 was a major marketing opportunity for Rimslow, but we had to outlay a large amount of capital to develop two machines and transport them to the exhibition,' said George Sebek, Rimslow's managing director.
'The working capital assistance from EFIC and ANZ helped alleviate the strain on our cash flow and enabled us to secure several new export deals,' said Mr Sebek.
'EFIC is delighted to renew its support of Rimslow after providing export finance to the company some 10 years ago,'said Angus Armour, EFIC's managing director. 'Rimslow's success at FESPA 2009 in a tough economic climate is a testimony to their innovative technology.'
'Through EFIC Headway, we work with Australia's leading banks to help SME exporters overcome working capital shortfalls and achieve further international success,' said Mr Armour.
Export Finance and Insurance Corporation
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