none

EFIC helps Aussie company win World Expo contract

15-09-2010
by 
in 

Export Finance and Insurance Corporation (EFIC), the Australian Government’s export credit agency, has provided working capital support to a Brisbane-based exporter involved with this year’s World Expo in China.

Urban Art Projects (UAP), won the contract to design and fabricate major sculptures for the main entrances to Shanghai World Expo 2010.

EFIC’s assistance was in the form of a working capital guarantee to ANZ, enabling the bank to lend an additional $300,000 to UAP to support the company’s expanding international operations.

EFIC’s guarantee, known as EFIC Headway, enables small and medium-sized enterprises like UAP to access additional working capital from their bank.

The EFIC-guaranteed funds are helping UAP move into new export markets and finance the delivery of major public art projects.

UAP has recently developed master plan art strategies for major property developments in the Middle East, including King Abdullah University of Science & Technology in Saudi Arabia and Sowwah Island in Abu Dhabi.

The company has also opened a studio in Houston to complement its facilities in Los Angeles and Shanghai.

“EFIC Headway has helped to boost our cash flow as we continue to grow our presence in Asia, the Middle East and North America”, said Ben Tait, CEO of UAP.

“UAP is a dynamic and creative company and EFIC is assisting it to meet the financial challenges of export growth,” said EFIC’s Executive Director, SME, Andrea Govaert.

“Through our working capital guarantees such as EFIC Headway, we work with Australia’s leading banks to help SME exporters overcome working capital shortfalls and achieve further international success,” said Ms Govaert.

Export Finance and Insurance Corporation
Ph: 02 9201 2276

www.efic.gov.au

Related news & editorials

  1. 09.03.2020
    09.03.2020
    by      In , In , In
    In May, Advanced Manufacturing Expo will be held for the first time to inspire future growth for the manufacturing industry and industrial sector. The expo’s conference and exhibition will showcase the latest advanced manufacturing production solutions and insights with dedicated solutions... Read More
  2. 23.08.2019
    23.08.2019
    by      In
    Swiss-based CNC specialist NUM has launched an innovative accelerometer-based active vibration control system for CNC machine tools. The system, primarily designed to improve machining by virtually eliminating tool head vibration, further helps increase productivity by maximising material removal... Read More
  3. 13.08.2019
    13.08.2019
    by      In
    Maintenance in the era of Industry 4.0 means a clear change of paradigm. ‘Predictive maintenance’ makes it possible to continuously monitor the status of a machine tool, which can reduce unscheduled shutdowns and the costs of failure. Instead of merely reacting to a failure or fault or carrying out... Read More
  4. 21.06.2019
    21.06.2019
    by      In
    Australian bicycle manufacturer Bastion Cycles produces high-performance road bikes that use filament-wound carbon fibre tubes and a modular design for titanium lugs. For the first three years of operation, Bastion outsourced production of the lugs to RAM3D, an additive manufacturing (AM) provider... Read More