Mark Andy Inc., now located in Chesterfield, Missouri, is a manufacturer of flexographic printing presses and other equipment for the printing industry. Mark Andrews, Sr., founded Mark Andy in 1946 with the first tape press, which established the pressure sensitive adhesive roll label industry. A leading manufacturer of narrow and mid-web printing and finishing equipment, Mark Andy supplies leading global brands with a complete line of print product consumables and printing supplies. The company has a staff of 575 U.S. employees with approximately 390 employees at its manufacturing facility.
To remain competitive with foreign manufacturers in international sales, U.S. exporters of equipment and other capital goods must be able to offer their foreign buyers term financing of a year or more. EXIM’s medium-term loan guarantee and insurance enable these exports to go forward by supporting commercial loans to foreign buyers on typical repayment terms of one to five years.
The company successfully uses EXIM’s medium-term insurance primarily to support supplier credits. Like any insurance policy, EXIM’s medium-term insurance provides protection in return for a premium. EXIM’s medium-term policy safeguards exporters against the risk of foreign-buyer nonpayment when they are extending export credit on terms of more than one year and up to $10 million. With this security, exporters can increase their global competitiveness by offering the financing needed to win sales.
The risk of extending open account credit terms to international customers can be very high. To reduce this risk, Mark Andy has used EXIM’s medium-term insurance for more than 20 years. Through FY 2018, EXIM’s medium-term policy has supported more than 50 of Mark Andy’s export transactions and approximately $41 million of the company’s export sales.