FOR IMMEDIATE RELEASE June 21, 2005
Marianna Ohe (202) 565-3200
Contact: Marianna Ohe (202) 565-3200
WASHINGTON, D.C. - Environmental Technologies Inc. (ETI), is adding ten jobs at its Pacific, Wa., plant to handle an order from Peru for fluid power pumps to off-load fish from supply boats into processing plants, backed by a $225,613 insurance policy from the Export-Import Bank of the United States (Ex-Im Bank).
Because of the Ex-Im Bank support, we finally were able to offer competitive financing and double our sales in the Peruvian market, said ETI Commercial Manager Victor Delucchi. We had seven employees before this transaction. We've added four manufacturing jobs and we plan to add six more for a total work force of 17.
This export sale fulfills two very important Ex-Im Bank missions - to create and sustain U.S. jobs, and to expand our support for innovative small businesses such as Environmental Technologies, said Ex-Im Bank Chairman Philip Merrill.
The buyer of the equipment is Conservera Garrido, S.A., a producer of fish-meal and fish oil for the manufacture of animal feed and other products. The Ex-Im Bank insurance enabled Ex-Im Bank's long-time partner, PNC Bank N.A., Pittsburgh, Penn., to provide Conservera Garrido with a medium-term loan to buy the ETI equipment.
PNC Bank has been promoting Ex-Im Bank products and U.S. exports in the Peruvian market for the last five years, said PNC Bank Vice President of Trade Finance Gloria Manchego. Many Peruvian companies are enjoying the benefits of this financing and are increasing purchases of U.S. products, something that was limited in the past.
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, or call 1-800-565-EXIM and press 5 to get in touch with the nearest Ex-Im Bank regional office.