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New Jersey Company Builds Bridges with EXIM in Cameroon and Zambia

Exporter/Customer: 
Acrow Bridge
Export Destinations: 
Cameroon and Zambia
EXIM Bank Product: 
Lender Loan Guarantee
Export Sales ($): 
$123 million
Jobs Supported: 
200

New bridge construction in remote area

In 1951, Acrow Bridge began manufacturing modular steel bridges, a revolutionary technology that was first developed during World War II. These bridges can be constructed in rural communities without the use of heavy equipment, connecting people to schools, hospitals, and other places, as well as enhancing economic opportunities.

EXPORT CHALLENGE

Acrow Bridge sought opportunities to export to two countries in sub-Saharan Africa - Cameroon and Zambia - where bridges were needed to link commercial routes to underdeveloped areas. However, the company was unable to find private sector lenders who were willing to provide competitive buyer financing.

EXIM SOLUTION

The company turned to EXIM to help level the playing field. Satisfied that there was a reasonable assurance of repayment and that the transaction would support US workers, EXIM partnered with a private sector lender to guarantee two loans that supported the export of 55 Acrow bridges to Cameroon and 144 Acrow bridges to Zambia.

RESULTS

Thanks to the availability of EXIM's financing, Acrow Bridge was able to compete based on the quality of their product. As a result, proposals from Acrow Bridge were chosen over bids submitted by their European and Chinese competitors. By winning these contracts, Acrow Bridge has been able to establish a foothold in these markets, creating new opportunities to grow its exports of American-made bridges.  

The exported bridges — built at Acrow's manufacturing facilities in Parsippany, New Jersey; Milton, Pennsylvania; and New Castle, Delaware — are estimated to support approximately 200 jobs at Acrow Bridge and hundreds more throughout the company's supply chain.

“EXIM Bank has been an indispensable partner in helping us offer the kind of innovative financing required to successfully implement major bridge infrastructure projects across the African continent. Without EXIM’s support, these major infrastructure projects simply aren’t possible ... Access to financing and credit guarantees made available through EXIM Bank has been and continues to be a key element in supporting exports, opening markets and creating U.S. jobs. Acrow Bridge is proud of its longstanding partnership with EXIM in supporting infrastructure development throughout the world, from the delivery and installation of the Acrow bridges to local skills capacity-building in the assembly and installation of these critical infrastructure assets."
Bill Killeen, President and CEO