Sydney-based Bronx International Pty Ltd 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.

Export Finance and Insurance Corporation (EFIC), Australia’s export credit agency, is supporting Bronx International – a long-time EFIC client – with a comprehensive financial package for a US$8.2 million contract to design and supply a galvanising line in Russia.

EFIC is providing an export finance guarantee to support a loan from HSBC Bank plc London to the buyer’s bank, the State-owned Russian Bank for Development, which is funding the galvanising line purchase.

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

“We turned to EFIC when it became clear that we needed additional financial assistance for our latest project in Russia,” said Bronx International managing director, Rod Sawyers.

“Without EFIC’s support it might not have been possible to put together the necessary financing package.”

The project is Bronx International’s third contract with the Russian company, which manufactures a range of industrial, commercial and domestic building-related products.

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

“Almost all of our market is in the world’s developing countries and emerging economies. As part of our package, we teach customers how to galvanise and paint which is one of our key market differentiators,” said Rod Sawyers.

EFIC’s export finance guarantees and bonding facilities assist Australian exporters to compete more effectively and confidently in global markets.

EFIC offers a range of financial and insurance services, which also include direct loans, export payments insurance and political risk insurance.