Exporter: Slade Inc. – Statesville, North Carolina
Jobs Created: 15
When Slade started with Ex-Im Bank in 1997, they had minimal international sales experience. In 2011, exports comprise 65% of the company's total sales. Slade had expanded enormously and hired more people.
Slade, Inc., of Statesville, North Carolina, manufactures fluid sealing products for industrial equipment, especially pumps. It particularly serves the steam, nuclear and water hydro-electric plants; pulp and paper mills; and petrochemical and oil and gas industries.
Slade has been using Ex-Im Bank's small business export credit insurance to offer open account terms to its international customers rather than require cash-in-advance. The policy typically covers about $1 million in exports annually, with Taiwan, Italy and South Africa a the primary markets. Exports have recently been rising about 10% each year and support more than half of its 30 employees.
"We are in the "comfort zone" with the export credit insurance. This has made us more aggressive in selling internationally as we do not have to worry about getting paid," stated Greg Raty, Vice President.