This family owned packaging business has been operating in NSW for 21 years.
From humble beginnings, to building significant expertise and operations expanding from Australia to the US, Hong Kong and China, this innovative business has become a leading global brand for sustainable packaging products, whilst offering end-to-end solutions that have set new industry benchmarks.
The company was introduced to Octet by our strategic partner, Western Union Business Solutions, who currently utilise their services for foreign exchange risk management.
Having achieved a 20% increase in annual revenue, an opportunity arose to procure increased levels of raw materials from suppliers overseas. The additional funds would assist in supporting sustainable growth, with suppliers secure in the knowledge they would receive guaranteed payment in a timely manner
To assess the company’s situation and recommend the best solution, Octet reviewed the relevant financial information and was able to provide an indicative funding proposal within 24 hours.
Octet ultimately delivered an unsecured $1M trade finance facility to supplement existing funding arrangements. Importantly, no property security or registered General Security Agreement (GSA) was required.
This solution enabled the business to transact with verified overseas suppliers via a revolving line of credit, benefitting from up to 60 days interest free and 120 days repayment terms. Western Union Business Solutions also allowed the company to utilise their existing foreign exchange contracts, whilst taking advantage of locked in rates.
With 2021 performance continuing on a strong trajectory, the business has been able to expand its operations further confident in the knowledge that they can manage increased orders through the availability of their Octet funding.
In the packaging industry and looking for flexible Trade Finance?
Disclaimer: The following comments are only our views and should not be construed as advice. You should act using your own information and judgment. Although information has been obtained from and is based upon multiple sources the author believes to be reliable, we do not guarantee its accuracy and it may be incomplete or condensed. All opinions and estimates constitute the author’s own judgment as at the date of publication and are subject to change without notice.
Western Union Business Solutions is a business unit of The Western Union Company. Services in Australia are provided by Western Union Business Solutions (Australia) Pty Limited ABN 24 150 129 749 and AFSL 404092 (WUBS). WUBS is the issuer of FX contracts referred to above. A Product Disclosure Statement is available for each of the financial products that WUBS issues and can be obtained by visiting our website: www.business.westernunion.com/en-au/compliance-legal. Before you decide to acquire a financial product from WUBS you should read the relevant Product Disclosure Statement. WUBS has entered into a referral arrangement with Octet and receives referral fees for referred clients who transact with Octet.