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Missouri Company Discovers New Export Opportunities with EXIM Bank Insurance

Western Forms Inc
Export Destinations: 
Mexico, India, and Colombia
EXIM Bank Product: 
Export Credit Insurance
Export Sales ($): 
$3 million
Jobs Supported: 

cast-in-place concrete building constructio

Western Forms, Inc., a Kansas City, Missouri company, manufactures aluminum forming systems that are used in residential and commercial cast-in-place concrete building construction. Since being established in 1955, the company grew to more than 300 employees. Yet due to the severe impact from the global economic slowdown in the construction industry in 2008, employment shrank to less than 70 employees. EXIM Bank approved Western Forms for a $2 million short-term export credit insurance policy to enter new marketplaces. Employment has now rebounded to more than 100 employees.

 With the Bank's insurance, the company has been able to increase its sales to emerging markets in Africa, the Middle East, Asia, Europe, and North, Central and South America.Daniel Ward, the company's International Operations Manager, learned about export credit insurance by attending an EXIM Bank Global Access for Small Business forum in Kansas City. The insurance covers open account credit terms for its buyers as well as protects against the risk of buyer nonpayment.

"EXIM Bank support is required by small family-owned companies like Western Forms. We rely on EXIM to help us manage the risk of extending credit to buyers outside the USA. With 60 percent of our sales coming from foreign markets, this support is not optional, it is mandatory. We have used EXIM since 1995 to increase employment opportunities and expand future growth."
Daniel Ward, International Operations Manager