ANCA designs and manufactures precision CNC tool grinders.
ANCA sells to a wide range of industries including aerospace, medical, automotive, electronics and tool manufacturers, with Rolls Royce, Johnson & Johnson, Boeing and Sutton Tools being among its customers.
The Melbourne-based company began exporting in 1986 and has won many industry and business awards, including Australian Exporter of the Year and the Endeavour Award for ‘Most Innovative Manufacturing Company'.
ANCA needed working capital for a new contract with a global Chinese organisation based in Hong Kong. Due to the high value of the export contract, ANCA approached us for help to secure finance.
We provided ANCA’s bank, HSBC, with a $A4 million export working capital guarantee (EWCG) to help fund the supply and purchase agreement.
This allowed its bank to approve the funds ANCA needed to secure this supply contract, in what is a very important market.
“With our help, ANCA was not only able to finance this transaction, but also secure additional export transactions,” said Export Finance Australia’s Philip Smith.