After investing more than $20 million to expand its South Australian manufacturing facility, electronics manufacturer Redarc has earned a tailored mentoring package as part of Westpac’s Top 20 “Businesses of Tomorrow” program.
Redarc hopes the $100,000 professional services package, which also includes a global study tour, will help with its existing plans to double its workforce at its South Australian facility in the next four years.
The company, which assigns 15 per cent of its annual revenue to research and development, drew admiration from the selection panel due to its track record of delivering profitability and growth and its ‘bold vision’ to quadruple its business through market expansion.
“The business has a strong management team which has delivered growth and profitability,” said David Lindberg, judge and Chief Executive of the Westpac Business Bank.
The awards program was developed by Westpac to help businesses of all sizes transition and grow in a changing economy, and attracted almost 2000 applications in its second year.