Adelaide beverage manufacturer makes splash with government working capital guarantee

Spring water's refreshing. But add a dash (or more) of alcohol to it, and you've got something even more attractive to many buyers. As South State Beverages ads proclaim, spring water has lost its innocence with DNA Alcoholic Spring Water. That simple philosophy has rocketed the Adelaide manufacturer of "ready-to-drink" alcoholic beverages to sales success throughout Europe, the U.S. and the Pacific Rim. And now the government's Export Finance and Insurance Corporation (EFIC) is helping South State develop new opportunities in China and Taiwan.

EFIC provided a working capital guarantee to Westpac, enabling the bank to lend additional funds to South State to help the company finance increases in the cost of packaging for markets in China and Taiwan.

EFIC’s guarantee, known as EFIC Headway, enables small and medium-sized exporters like South State to access additional working capital from their bank.

"It’s great to receive orders for our beverages in China and Taiwan, but it also means extra packaging and labelling costs for these markets," says Stephen Williams, South State managing director. "The additional funds available through EFIC Headway have helped us seize these new export opportunities and build on our existing Asian customer base in Japan, Korea and Singapore."

South State manufactures its brands in Adelaide, and under licence in Melbourne and Sydney as well as in the United States, Europe and Asia.

A basic concept that has gone viral, DNA was first released in 1995, and has quickly made its mark around the world. It's produced using natural spring water combined with natural lime and thyme flavours. DNA's glow-in-the-dark thumbprint label also helped it capture a fan base in nightclubs and bars.

You can find a list of drink recipes using DNA at www.barnonedrinks.com/drinks/by_ingredient/d/dna-alcoholic-spring-water-2219.html
www.southstate.net.au

Would you like to get funding to develop your business idea? There's money available now for qualified existing and start-up businesses. Phone toll-free 1800 813 863.

No claim is made the above funding success is due to ABFC.