The future of packaging can be summed up in one word – sustainable – and SECOS Group (ASX: SES), with its proprietary technology across an 11-patent family, sits at the cutting edge. Boasting an annual revenue in excess of $21 million,
SECOS supplies biodegradable and biohybrid™ resins, sustainable packaging products and high-quality cast films to a
global base of blue chip customers.
Executive Chairman, Richard Tegoni, says, “We assist global packaging companies to improve their products by
making them more sustainable, with the added benefit of improved performance such as stronger films that feel softer
to touch.” “Many of our products replace traditional plastic with superior alternatives made with renewables and less
oil. Our patented sustainable plastics compost, whereas traditional plastic takes thousands of years.”
Business is good for SECOS’ eco-friendly, sustainable packaging. But there have been challenges. “We have spent a lot
of time and invested millions of dollars in R&D over many years to satisfy the extremely high benchmark set by our blue
chip customer base. I’m pleased that we now have the product performance nailed but there can be months
between receiving orders and getting paid, with manufacturing and exporting time in between.”
Initially SECOS sought financing from traditional banks. But they wanted to see more a concrete long-term supplier
agreement, which is not the way packaging supply chains work.
“Australian banks scare easily. Big companies call the shots. They couldn’t get their minds around doing business this
way. They didn’t understand export finance or acknowledge the low risk of our blue chip clients’ invoices or purchase
orders.
Having looked around, they were thrilled by Timelio’s export finance offer. Edmond Tern, Chief Financial Officer says,
“Right now, I don’t think there’s another provider in the market that comes close to Timelio in terms of flexibility, ease to
deal with or professionalism.” Timelio offers finance without the bureaucracy of the banks. They move quickly.
“Recognising the value of our low-risk customer invoices has significantly improved our cashflow. We’re so pleased with
the outcome. I’d certainly recommend them.”
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