FOR IMMEDIATE RELEASE June 27, 2005
Marianna Ohe (202) 565-3200
WASHINGTON, D.C. - Carver Inc., a small Savannah, Ga., maker of oilseed processing machinery, expects to expand its work force and its sales to Brazil with the help of a valuable partner - the Export-Import Bank of the United States (Ex-Im Bank).
This transaction not only sustains skilled jobs at Carver and its sub-suppliers in the Savannah area, but also fulfills Ex-Im Bank's mandate to increase support for small business exports, said Ex-Im Bank Chairman Philip Merrill.
Because of the Ex-Im Bank support, we were able to sell this Brazilian buyer a brand new design machine which is much more efficient and enables the buyer to produce a better quality product, said Robert Pavlik, product general manager of Carver, which exports machinery to a number of Latin American markets. We see this transaction leading to increased foreign sales and more jobs at home. Right now we're out looking for an engineer to help with additional machinery design.
The insurance enabled SunTrust Bank in Atlanta, Ga., a long-time Ex-Im Bank partner, to provide Maeda S.A. Agroindustrial with a medium-term loan to buy Carver's equipment.
The programs and assistance provided by Ex-Im Bank are an integral part of our trade finance product offering, which greatly expands the types of lending vehicles we can offer our exporting clients, said SunTrust Director of Trade Finance Susanne Keough. Our partnership with Ex-Im Bank as a Delegated Authority Lender and in medium- and long-term credits has allowed us to finance dozens of export finance transactions over the last decade servicing our client base in the Southeastern U.S.
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 contact Ex-Im Bank's Southeastern Regional Office at (305) 526-7436.