FOR IMMEDIATE RELEASE April 12, 2005
Marianna Ohe (202-565-3200)
WASHINGTON, D.C -- Anitox Corp. of Lawrenceville, Ga., is to receive the 2005 Small Business Exporter of the Year award from the Export-Import Bank of the United States (Ex-Im Bank) at Ex-Im Bank's 2005 annual conference in Washington, D.C., on Thursday, April 14.
|Export-Import Bank Director Linda Conlin, right, presents Ex-Im Bank's Small Business Exporter of the Year award to Bill Ethridge, CFO of Anitox Corporation, Lawrenceville, GA. Anitox, a producer of mold inhibitor and bacteria control powders and liquids for animal feeds, has seen its export sales more than double from 2001 to 2004, using Ex-Im Bank's insurance and Working Capital Guarantee programs. Pictured left to right, is Bill Browning with BB&T Insurance Services, and Mr. Bill Walby, COO, Anitox Corp.|
Anitox, a producer of mold inhibitor and bacteria control powders and liquids for animal feeds, has seen its export sales more than double from 2001 (when they comprised 40% of annual revenues) to 2004 (about 70% of annual revenues), using Ex-Im Bank's insurance and Working Capital Guarantee programs. The company's workforce expanded from 30 to over 50 employees over the same period.
Exports are the biggest reason for our dynamic growth, and Ex-Im Bank made those exports possible, said Anitox President and CEO Marsha Clark. A lot of overseas customers require long terms, up to 180 days, and every time we get a new customer we have to make a fairly large capital investment at the customer's site. With that and the cost of materials, it's very important to finance receivables, and to protect against nonpayment risk.
Ex-Im Bank's mission is to help innovative small businesses like Anitox compete in foreign markets to create and sustain high-quality jobs at home, said Ex-Im Bank Chairman Philip Merrill. Small businesses represent the greatest potential for export growth in the U.S. economy. We are delighted to give this worthy company our 2005 Small Business Exporter of the Year award.
Anitox has been an Ex-Im Bank insurance policy holder since 2001, and a user of Ex-Im Bank's Working Capital Guarantee Program through Branch Banking & Trust Col (BB&T) of Greensboro, N.C. The company began with an Ex-Im Bank small business insurance policy and now has graduated to the standard multibuyer insurance policy. It has expanded its foreign markets from Europe to Asia and Latin America.
Ex-Im Bank's 30th annual conference on April 14 and 15, will be held at the Omni Shoreham Hotel in Washington, D.C. The award ceremony will take place during the April 14 luncheon program which begins at 12:30 p.m.
Ex-Im Bank, the official export credit agency of the United States, is in its 71st year of helping finance the sale of U.S. exports, primarily to emerging markets throughout the world, by providing loan guarantees, export credit insurance and direct loans. In fiscal year 2004, Ex-Im Bank authorized financing to support $17.8 billion of U.S. exports worldwide. For more information, visit www.exim.gov.