Diversified Plastics, Inc. of Missoula sells non-metallic components for clarifying tanks in water treatment facilities. This 51-person company was founded in 1976 and is family-owned, second generation.
The General Manager, Wendy Koster, had a concern about nonpayment by an international customer as the company had no export sales. She then discovered EXIM Bank via the U.S. Commercial Service and the Montana Department of Commerce.
In 2015, Diversified obtained an EXIM Multi-Buyer Express Export Credit Insurance policy through broker Brett Tarnet Insurance Services. The policy covers up to 95% of the sales invoiced and allowed the company to extend credit to its two Singapore customers.
With exports comprising 10% of Diversified Plastics’ total sales, EXIM supports at least six jobs. EXIM has covered $1.1 million of the company’s export sales during the 2015 to 2017 period.