Mark Andy, a manufacturer of narrow web flexo presses based in St. Louis, MO, USA, last week welcomed Export-Import Bank Chairman and President James H. Lambright to its headquarters. The event celebrated Missouri manufacturers like Mark Andy who are benefiting financially from exporting overseas and underscored the role that the Export-Import Bank (Ex-Im) is playing.
In his presentation at the meeting Mark Andy CEO Paul Brauss attributed the company’s success overseas to working closely with Ex-Im Bank over the years in offering creative financing solutions. For more than 20 of its 60 years in business, Mark Andy has been exporting narrow web converting equipment to many regions around the globe, which has resulted in more than 65 percent of total revenues coming from outside the United States. “The growth in Mark Andy’s global export business is both exciting and challenging, but a challenge we embrace. By building strong relationships with partners like Ex-Im Bank, Mark Andy can provide solid financial support to converters all over the world, and deliver innovative and technological advances that will help sustain the narrow and mid-web converting industry,” said Brauss.
Ex-Im Bank is the U.S. government’s official export credit agency, created independently to assist companies in financing exports of U.S. goods and services around the globe. Lambright, a native of St. Louis, was appointed by President Bush to serve as chairman of the board through January 20, 2009. Lambright discussed the role of Ex-Im Bank and recounted the various types of financial assistance available to companies. “Mark Andy is a user of Ex-Im’s medium-term insurance, which, has supported numerous transactions in emerging economies like India, Turkey, Peru, Paraguay, and Brazil.” Jeff Auton, manager of Mark Andy’s financial services department, said, “After working with Ex-Im on that first deal on Brazil back in 2002, our use of Ex-Im services has helped us close more than 25 additional press sales.”