A global bank to support a global business
Growing an export business requires a supportive bank that understands international business.
NOJA Power is an Australian owned company that manufacturers a range of pole mounted automatic circuit reclosers. Since inception NOJA Power has targeted its products for export and is a company that was born global. "ANZ for us is really the only Australian bank that seriously targets and supports Australian exporters to do global business", said Neil O'Sullivan, Managing Director, NOJA Power.
NOJA Power researches, designs and manufactures medium voltage electrical switchgear. NOJA Power automatic circuit reclosers operate in the voltage ranges of 10,000 to 27,000 volts. This equipment is used by electrical utilities around the world to protect electrical distribution lines. Their core product is called an auto-recloser and is designed to trip when a fault occurs, then re-connect power automatically without human intervention. If the fault was temporary - such as a lightning strike - then the power will stay reconnected without any further action required. This helps to reduce costly and inconvenient power interruptions experienced in electrical storms and other faults.
Over the years a strong business relationship has developed between NOJA Power and ANZ. As a global exporter, NOJA Power requires a strong financial backing so it can grow its international business through generation of demand for its products. "The ANZ International Trade Services Division provides us with tremendous support. In most cases same day service is provided to issue bank guarantees or negotiate Letters of Credit which frankly are simply not available from any other bank" said NOJA Power's Finance Manager, Quynh Anh Le.
ANZ also supports NOJA Power with a multi-option facility that ensures its day to day business and growth needs are continually met . Foreign exchange currency fluctuation risk and protection is also another important part of trading globally and once again ANZ Queensland based FX dealers are there to support NOJA Power with foreign exchange advice and forward exchange contracts to eliminate the FX risk.
ANZ recognizes there are business and cultural requirements when carrying out international business and the risk associated with this must be managed while still maintaining competitiveness. "Here at ANZ we have developed suitable structured finance and banking arrangements for NOJA power so they can fund their continued growth," said ANZ Relationship Manager
Establishing a global market for Australian products requires considerable effort and NOJA Power are pleased to work with ANZ who are easy to do business with and eager to support NOJA Power on the path to success.