A year after 2009 layoffs, Morrison Textile Machinery says a $7 million foreign deal - made possible by the Export-Import Bank - could mean the company doubles its exports this year and maintains or increases the size of its workforce. With this significant sale, the South Carolina-based Morrison will provide textile manufacturing equipment to an Egyptian company that's opening a denim production facility. The Export-Import Bank's financing helped the customer handle the large scale of the project and provide Morrison with much needed revenue.
Egypt Transaction Helps Manufacturer Get Back on Track
Morrison Textile Machinery Company
EXIM Bank Product:
Buyer Financing: Loan Guarantee
Export Sales ($):
John Morrison White, Jr., President
EXIM Bank's guarantee helped the customer justify the scale of the project,. We are exporting two different textile manufacturing systems to the Egyptian plant at one time. Usually a client orders a single system and then a year later maybe orders again. This double-size sale will have a big impact on our business.