Exporter: Holland L.P. - Crete, IL
Transaction: Medium-Term Insurance
Export Sales: $1.6 million
Holland L.P., a pioneer and leader in the railway-supply industry, was interested in doing business beyond Mexico in 2010. The Export-Import Bank was more than happy to help make this hope a reality.
As a result of Ex-Im Bank's medium-term insurance policy on a $1.6 million loan, the Illinois-based company was able to complete a major export transaction and sell two complete in-track welding systems to Brazil's Concrenor Indústria e Comércio Ltda. The exports will be used to refurbish a 177-kilometer stretch track of the Ferrovia Norte-Sul rail line in the state of Tocantins in central Brazil.
"Without Ex-Im Bank, this transaction would not have come to life," said Holland CEO Frank J. Francis. "The Bank provided us and our international customer with the opportunity to close a mutually beneficial contract that meets our short- and long-term plans and fits into the strategic and economic goals of both of our countries."
Holland, a privately held company that was founded in 1935, supplies electric "flash butt" welding systems, car components and track testing using efficient road rail vehicles. The company has approximately 250 employees at its facility in Crete, Ill.
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