Tomco Technologies is a South Australian-based engineering company that designs and manufactures radio frequency power amplifiers for scientific and commercial applications.
Tomco supplies its equipment to scientific and industrial customers around the world, which are used within:
- particle accelerators, which are used in high energy physics research by universities, private research groups and research institutes
- nuclear magnetic resonance systems found in MRI machines and industrial spectrometers
- radars that are used in weather prediction, surveillance, glaciology and climate change research.
Smaller versions of Tomco’s amplifiers are also used in security screening, sterilisation and materials research.
All design, manufacturing and shipping is done out of its head office in Adelaide, along with its research and development program that ensures its products offer the best performance and use the most current technology.
A new export contract
Tomco needed additional working capital to support a new contract with Bevatech OHG, a German physics consulting firm, for the manufacture and export of one 140kW and two 340 kW radio frequency amplifiers.
These RF amplifiers will be used within a Heavy Ion Accelerator by a multi-national research institute based in Russia to undertake fundamental research into particle behaviour for potential commercial applications.
As part of the contract, Tomco will also attend the project site in Dubna, Russia, to oversee the installation and commission of their equipment.
Tomco is often not able to receive advance payments for its products, and so must buy components and pay for manufacturing and delivery costs before payment is received.
Tomco’s bank, NAB, was already covering Tomco’s trade facility and, once the contract with Bevatech came about, this facility had reached its limit.
As a result, NAB was unable to approve further finance for this project but suggested that Tomco contact us to see if we could help.
Our financial support
We provided an export working capital guarantee for $620,000, which allowed Tomco to receive the working capital it needed to fulfil the contract from Bevatech.
This guarantee allowed Tomco to buy everything it needed for the project upfront, which allowed it to proceed more smoothly, and so was more profitable.
“We worked with NAB to help Tomco fulfil this very important contract,” said Export Finance Australia’s Leela Hanson, “which has now allowed it to bid on a wider range of other projects.”
“With an established track record and a confirmed pipelineof orders, we’re very pleased to have helped Tomco with its future growth plans.”