Marand

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Marand is an award winning privately owned family business with a history spanning nearly 45 years. Established as a machine tool company servicing the automotive industry, Marand has successfully diversified and expanded its business and today is a leading global supplier of precision engineering solutions to a range of industries including Aerospace, Defence, Rail and Automotive.

Two large new contracts

Marand, partnered with Spanish company Danobat S Coop (Danobat) through a sub-contracting agreement to win a contract with BHP Billiton Iron Ore (BHPBIO), to design and construct a new railway maintenance workshop at Mooka, in Western Australia. The new automated facility is to accommodate BHPBIO’s expansion in rolling stock as a result of significant recent growth.

Marand also won the contract to upgrade the rail service maintenance facility of Rio Tinto (Rio). Marand is Rio’s key rail maintenance equipment supplier. As part of its Rail Capacity Enhancement project, Rio committed a significant sum for the upgrade of the rail service maintenance facility located near Karratha in Western Australia.

Once complete, these workshops will be amongst the largest automated railway workshops in the world and will be integral in improving the efficiency of BHPBIO and Rio’s export operations.

In total, these projects are worth in excess of $130 million.

Marand needed to provide performance and warranty bonds to secure the financing needed for these contracts. Marand’s bank wanted to help but was unable to due to a security shortfall and so Marand contacted Efic.

How we helped

We provided performance and warranty bonds in support of the separate contracts with BHPBIO and Rio subsidiary Hamersley Iron for the establishment of rail maintenance facilities in Western Australia.

These bonds allowed Marand to finance and secure these two important contracts with facilities beyond those already provided by its bank. 

“ We could not have done these projects without
Efic’s support. These projects would have gone to overseas competitors. Securing these contracts has increased our employment by 100 people.”
David Ellul, Executive Chairman, Marand.

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