Mobicon Systems is a Brisbane-based engineering company that designs and manufactures straddle carriers that move shipping containers off trucks and trailers quickly and easily.
Mobicon’s straddle carriers are used in a wide variety of industries around the world including import/export, ports, mining, customs/border security, logistics, manufacturing, steel and defence.
Exports make up around 45 per cent of Mobicon’s sales, with TOLL, ARC Steel, Sadleirs, The Australian Defence Force and The US Navy among its long-term customers.
Since Mobicon started in 1997, not one manufactured Mobicon straddle carrier has ever been decommissioned, with all still in use by their original buyer or by clients who have purchased them second hand.
A high-profile contract
Mobicon won a A$3 million contract to supply branded container carriers to the American subsidiary of a Western Australian shipbuilder, Austal.
These container carriers form part of the Littoral Combat Ship contract currently being undertaken by Austal, which is being constructed for the United States Navy.
To fulfil this contract, Mobicon needed additional working capital due to the cashflow requirements of manufacturing two machines at the same time.
While Mobicon’s bank has been very supportive of Mobicon’s export business, it was unable to provide the working capital that Mobicon needed without additional tangible security.
As a result, its bank suggested Mobicon contact us to see if we had a solution.
How we helped
We provided Mobicon with an Export Contract Loan for A$400,000, which allowed Mobicon to buy all the major components (such as engines and electronics) for the two carriers and commence construction.
Having this additional working capital also allowed Mobicon to free up funds to grow its business, both here and overseas, giving it a strong pipeline of orders well into the future.