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Missouri Company Lands Two Sales in Costa Rica with EXIM Buyer Financing

Exporter/Customer: 
Barry-Wehmiller Companies, Inc.
Export Destinations: 
Worldwide
EXIM Bank Product: 
Lender Loan Guarantee - Buyer Financing

Barry

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.

EXPORT CHALLENGE

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 SOLUTION

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.

RESULTS

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.

“EXIM Bank has been instrumental in supporting the growth of strategic customer relationships with our most important and loyal accounts in Latin America.“
Daniel Platschek, International Finance Manager