Exporters: Aquatech International - Canonsburg, Pennsylvania
Destination: Asia, Latin America, Middle East
Export Sales: $42 million
Jobs Supported: 100+
Aquatech needed funds to fulfill its growing export orders so it sought Ex-Im Bank's support. The company’s use of Ex-Im’s working capital guarantee has grown from $1 million to $42 million over a 16-year period (1994-2010) as the green technology company expanded foreign sales of industrial water and wastewater treatment products and services. Its technology includes zero liquid discharge treatment, water reuse, and desalination.
The company has recently added export credit insurance to cover its increase in sales.
"In today's challenging global economic environment, Ex-Im Bank support of our exports gives us opportunities that we otherwise would not have. The Ex-Im Bank facility allows us to serve buyers in many different countries, like Saudi Arabia, India and China, that are less hit by recession. Exports make up 40 to 60 percent of our business, and these sales have helped us create and maintain jobs at Aquatech. Ex-Im Bank has had a positive impact on our continued growth," said Venkee Sharma, President and CEO.
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