Founded in 1875, Barry-Wehmiller Companies Inc. is a St. Louis-based global supplier of manufacturing technology and services. Over the last 130 years, they have grown from a company with a single location and two employees to the parent of more than 100 companies with over 200 global locations and 12,000-plus team members around the world. Barry-Wehmiller is dedicated to their culture of care, compassion and human connection. Their global success is an example of what’s possible at the intersection of good business strategy and a dynamic people-centric culture.
In 2017 and 2018, Barry-Wehmiller’s subsidiary, BW Papersystems, had opportunities to supply manufacturing equipment to Costa Rica’s leading producer of corrugated packaging products for a major expansion of its production capacity. The only problem was their international buyers were having trouble securing medium-term loans to purchase these U.S. made goods.
EXIM supported two separate financings, totaling approximately $7.4 million, for the sale of BW Papersystems’ equipment to Costa Rica. EXIM guaranteed the lender loan for Barry-Wehmiller’s customers. With the full faith and credit of the U.S. government backing 100 percent of the loan, the lender felt more secure to offer a longer-term loan with better interest rates.
Barry-Wehmiller’s international buyers are often located in countries where financial markets are not well developed and do not offer medium-term financing. Thanks to EXIM’s financing support, Barry-Wehmiller’s proposals are more competitive. Because of their success with various EXIM products, they have been an EXIM partner for 15 years.