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EX-IM BANK SUPPORTS U.S. EQUIPMENT EXPORTS FOR TURKISH POWER PLANT

FOR IMMEDIATE RELEASE December 15, 2004

Media Contact Name/Phone: 

Marianna Ohe (202) 565-3200

The Export-Import Bank of the United States (Ex-Im Bank) today approved a $53.3 million loan guarantee to support the export by GE Packaged Power, Inc., Houston, Tex., and other U.S. suppliers of equipment and services to expand the Bis Enerji Elektrik Üretimi A.S. (Bis Enerji) power plant in Bursa, Turkey.

U.S. suppliers participating in the export sale include: General Electric Co., Schenectady, N.Y.; WahlcoMetroflex, Inc., Lewiston, Me.; World Control Internatioal, Orlando, Fla.; Hebeler Corp., Tonawanda, N.Y., Nooter/Erikson Fenton, Mo., and General Electric Energy Parts, Inc., Atlanta, GA.

We are delighted to support U.S. exports to Bis Enerji, a long-time customer, and in the process to create and sustain high-quality U.S. jobs around the country, said Ex-Im Bank Chairman Philip Merrill.

The transaction represents the third expansion of the Bis Enerji plant supported by Ex-Im Bank. The guaranteed lender on the transaction is UPS Capital Business Credit, Hartford, Conn.

The financing will support the sale of one GE LM6000PC gas turbine and generator, three Nooter/Eriksen heat recovery steam generators, a GE steam turbine generating unit, and associated installation services and equipment to add 108 megawatts of generating capacity to the plant to meet Turkey's increased demand for electrical power.

Ex-Im Bank this year marks 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, an independent federal agency, authorized financing to support approximately $17.8 billion in U.S. exports worldwide, a 25% jump from a year earlier. For more information on Ex-Im Bank visit //www.exim.gov. To receive news and information directly from Ex-Im Bank via e-mail, sign up at https://public.govdelivery.com/accounts/USEXIM/subscriber/qualify.

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