Exporting So the World Can Sing: EXIM Helps Music Stand Company
The Manhasset Specialty Company manufactures quality music stands and various accessary products that are used in thousands of classrooms around the world and are the number one choice of symphonies and orchestras worldwide. It is an “Employee Owned” business where everyone takes great pride in what is produced. A tradition of over 80 years, the Manhasset Specialty Company of Yakima, WA, is the undisputed leader in the manufacturing of concert style music stands worldwide.
With such a unique product, Manhasset Specialty Company realized how invaluable their music stands would be to other countries around the globe. However, as a small company with only 20 employees, it was too big a risk to take financially. The fear was exporting to distributors they had no relationship with yet.
Fifteen years ago Manhasset looked to EXIM Bank for assistance in exporting globally. With EXIM's small business, export credit insurance, the music stand company began selling to other parts of the world they never imagined they could. With guaranteed insurance from EXIM, Manhasset broke into new markets to export to.
Before EXIM support, exports sales was a only a small fragment of the company’s sales. Today, exporting worldwide is the only place Manhasset has seen growth. It is the only way they can take advantage of markets that don’t know about our product and need it. According to the company, “The EXIM process is necessary for growth and jobs.” From October 1, 2012, to March 30, 2018, EXIM insurance has supported $7.5 million in international sales for Manhasset Specialty Company.