Gold Peg International is a Victorian-based specialist food technology company.
Gold Peg won a contract to supply food processing equipment, and control hardware and software, to a dairy cooperative in Europe.
Under the contract, Gold Peg would supply and install a specialised cooker, called a Gold Peg International Cooker Stretcher. This cooker is specifically designed for the industrial production of natural mozzarella and pasta filata varieties of cheese.
While a traditional wet cooker requires large quantities of water, Gold Peg’s innovative, environmentally-friendly technology uses direct steam injection for continuous cooking.
However, Gold Peg needed to provide a performance bond for 50 per cent of the contract value – cash the company needed for working capital for its growing business.
Bonds are often a large component of the value of export contracts and can present obstacles for smaller exporters trying to grow their businesses overseas.
We helped Gold Peg by issuing the performance bond directly to its buyer, allowing Gold Peg to secure this important contract.