EFIC supports long time client Bronx International with multi-million dollar contract in the Ukraine

Export Finance and Insurance Corporation (EFIC), Australia's export credit agency, is supporting long time client Bronx International Pty Ltd with a comprehensive financial package for an approximate US$17.2 million contract to design and supply a galvanising line in the Lugansk region, Ukraine.

Bronx International, based in Sydney, is typical of Australian manufacturing exporters who are innovating and developing niche markets to achieve global success. Bronx International designs, manufactures and supervises the installation and commissioning of galvanising and paint lines to coat metal sheeting destined mainly for building products such as roofing.

EFIC is providing an export finance guarantee to support a loan from HSBC Bank plc in London to the Ukrainian buyer's bank, Alfa Bank (Ukraine) which is funding the galvanising line purchase.

“This will be the fifth contract EFIC have assisted us with and the third export finance guarantee. EFIC’s support in the financing of our latest project has been crucial. In light of the tightening credit conditions and a lower risk tolerance in the global financial markets, we might not have been able to get the funding we required,” said Rod Sawyers, managing director of Bronx International.

“We are pleased to be able to continue assisting Bronx International in expanding their exporting business. This ongoing relationship really highlights our commitment to providing flexible and innovative financial solutions for Australian small- to medium- sized enterprise exporters,” said EFIC managing director Angus Armour.

EFIC also issued an advance payment bond in favour of the buyer as security for advance payments made by the buyer to Bronx International under the contract.

Bronx International has gained an edge over its competitors by combining expertise in both heavy engineering and the production line process.