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Houston Company Expands into Asian and Latin American Markets with $30 million in Ex-Im Bank Financing
Tue, 2012-02-07 15:45

Thrustmaster is a small business that designs and manufactures marine thrusters - propulsion devices for the spacecraft and watercraft industries. Its factory is the largest thruster manufacturing facility in the world. This Houston-based plant has 200,000 sq. ft. and employs over 230 workers. The thrusters range from 75 to 8,000 kW, serving customers all over the world, especially Korea, Singapore, Brazil, India, the UAE, and China.

In 2011 Thrustmaster was approved for a $30 million Ex-Im Bank working capital loan guarantee through Amegy Bank of Texas which allowed the company to hire 20 new workers.

Thrustmaster is taking advantage of significant opportunities to increase foreign sales – exports accounted for 80% of its total sales in 2011. Hyundai Heavy Industries, the world's largest shipbuilding company, signed its first contract with Thrustmaster last May.

"The Ex-Im Bank loan guarantee allows us to enter into numerous multi-million dollar international transactions that would normally be restricted to larger multinational corporations," said Joe Bekker, the company's president. "Ex-Im Bank enables us to compete on a level playing field with our larger multinational competitors."