FOR IMMEDIATE RELEASE March 12, 2003
Linda Formella (202) 565-3200
The Export-Import Bank of the United States (Ex-Im Bank) has approved medium-term financing to support the sales of a variety of U.S. manufacturing and agricultural equipment to private sector buyers in Mexico. Recent authorizations are:
--a $746,704 comprehensive medium-term insurance policy for PNC Bank of Pittsburgh, Pa., to support the sale of a multi-spindle, automatic bar lathe by International Resources Group of St. Louis, Mo., to Precision S.A. de C.V. of Lomas Altas, Mexico. The U.S. exporter is S&M Machine of Oconto Falls, Wis. Both the U.S. exporter and supplier are small businesses. The broker is EIA Global of Walpole, Mass.
--a $1.8 million comprehensive medium-term insurance policy for Toronto-Dominion Bank of Baltimore, Md., to support the sale of corn chip manufacturing equipment by San Antonio Trade Group of San Antonio, Texas, to Fritos Encanto de Monterrey S.A. de C.V. of Monterrey, Mexico. The U.S. supplier is JC Ford Company of La Habra, Calif. Both the U.S. exporter and supplier are small businesses. The broker is IRC of Columbus, Ohio.
--a $2.5 million comprehensive medium-term insurance policy for PNC Bank N.A. of Pittsburgh, Pa., to support the sale by Case Construction Equipment Inc. of Racine, Wis., of industrial equipment for commercial rental use to Megarent Equipment S.A. de C.V. of Merida, Yucatan, Mexico. The broker is EIA Global of Walpole, Mass.
--a $1.1 million comprehensive medium-term insurance policy for SunTrust Bank of Miami, Fla., to support the sale of hog feeding, breeding and watering equipment and related items by Poultry and Industrial Suppliers Inc. of Miami, Fla., to Agropecuaria Barobampo S.A. de C.V. of Los Mochis, Sinaloa, Mexico. U.S. suppliers are Chore-Time/Brock of Milford, Ind.; Hog Slat Inc. of Newton Grove, N.C.; and Betco Inc. of Statesville, N.C. The broker is International Risk Consultants of Columbus, Ohio.
Ex-Im Bank is the official export credit agency of the United States that helps to finance the sales of U.S. exports, primarily to developing markets, by providing guarantees, export credit insurance and loans. In fiscal year 2002, Ex-Im Bank authorized financing to support nearly $13 billion of U.S. exports.