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Egypt Transaction Helps Manufacturer Get Back on Track

Exporter/Customer: 
Morrison Textile Machinery Company
Export Destinations: 
Egypt
EXIM Bank Product: 
Buyer Financing: Loan Guarantee
Export Sales: 
$7 million

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Morrison is a fourth-generation, family-owned business, with a long tradition of building quality machine assemblies and components. It provides machinery to the textile, non-woven, and paper industries. The company has a 105,000 square foot facility, located in north central South Carolina.

A year after its 2009 layoffs, Morrison Textile Machinery landed a $7 million foreign deal - made possible by the EXIM - doubled its exports that year and increased the size of its workforce. With this significant sale, the South Carolina-based Morrison provided textile manufacturing equipment to an Egyptian company that's opening a denim production facility. EXIM's loan guarantee helped the customer obtain the funds necessary to provide Morrison with much needed revenue.

"EXIM'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."
John Morrison White, Jr., President