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Texas Company Expands into Asia and Latin American Markets with EXIM Financing

Exporter/Customer: 
Thrustmaster of Texas Inc
Export Destinations: 
Korea, Singapore, Brazil, India, UAE and China
EXIM Bank Product: 
Working Capital Loan Guarantee
Jobs Created: 
20

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Thrustmaster is a small business that designs and manufactures marine thrusters - propulsion devices for the spacecraft and watercraft industries. Its factory is the largest thruster manufacturing facility in the world. This Houston-based plant has 200,000 sq. ft. and employs over 230 workers. The thrusters range from 75 to 8,000 kW, serving customers all over the world, especially Korea, Singapore, Brazil, India, the UAE, and China.

In 2011 Thrustmaster was approval for a $30 million EXIM Bank working capital loan guarantee through Amegy Bank of Texas which will allowed the company to hire 20 new workers.

Thrustmaster is taking advantage of significant opportunities to increase foreign sales - exports accounted for 80% of its total sales in 2011. Hyundai Heavy Industries, the world's largest shipbuilding company, signed its first contract with Thrustmaster last May.

"The EXIM Bank loan guarantee allows us to enter into numerous multi-million dollar international transactions that would normally be restricted to larger multinational corporations. EXIM Bank enables us to compete on a level playing field with our larger multinational competitors."
Joe Bekker, President