Tag Archive for 'Ex-Im Bank'

AEM Applauds House Vote to Reauthorize the Ex-Im Bank

Association of Equipment Manufacturers (AEM) President Dennis Slater issued the following statement in support of the bipartisan passage of H.R. 4863, which reauthorizes the U.S. Export-Import Bank: 

Dennis Slater, AEM President

“Exports are imperative to equipment manufacturers and to a robust U.S. economy,” said Dennis Slater, President of AEM. “With about 30 percent of equipment made in the U.S. destined for export, it’s important to our industry to help facilitate trade and ensure a level playing field in the global marketplace. The Ex-Im Bank helps do that by securing credit and export assistance for equipment manufacturers so that they can export more of their products globally. We now urge the U.S. Senate keep the momentum going by swiftly voting in favor of the Ex-Im Bank’s reauthorization. By doing so, they will help keep our industry vibrant and the support our industry’s 1.3 million men and women.”  
The U.S. House of Representatives voted 235-184 in favor of the bill. The Export-Import Bank is especially important to small and medium-sized businesses, which account for nearly 90 percent of the Bank’s transactions. The bill also renames the bank to the “Export Finance Agency.”  

AEM is the North American-based international trade group representing off-road equipment manufacturers and suppliers, with more than 1,000 companies and more than 200 product lines in the agriculture and construction-related industry sectors worldwide. The equipment manufacturing industry supports 1.3 million jobs in the U.S. Equipment manufacturers also contribute $159 billion to the U.S. economy. AEM is celebrating its 125th anniversary in 2019.
Visit www.aem.org/advocacy for more information.   

AEM And Export-Import Bank Begin Pilot Program For Small-Medium Size Member Companies

Small- and medium-sized companies with membership in the Association of Equipment Manufacturers (AEM) can now benefit from a pilot program with the Export-Import Bank of the United States (Ex-Im Bank) to increase their exports.

(left to right) Chuck Martz, Dennis Slater and Fred Hochberg

Dennis Slater, president of the association, and Fred P. Hochberg, the chairman and president of Ex-Im Bank, launched the program to help AEM’s small- and medium-sized (SME) member companies boost exports. AEM 2010 Chairman Chuck Martz, President & CEO of Link-Belt Construction Equipment, participated in the launch.

“In his State of the Union message, President Obama set a goal of doubling U.S. exports over the next five years, and increasing support for small business,” Hochberg said.  “Ex-Im Bank will continue to expand its efforts to help small business exporters, including manufacturers, contribute to and share in that success by selling to the 95% of the world’s buyers who are located outside of the U.S.”

Under the guidelines of the program, an Ex-Im Bank representative will tailor assistance to eligible AEM-member companies interested in exporting products to new or existing markets.

The program will focus on Working Capital Guarantee and Export Credit Insurance, but companies may also receive other Ex-Im Bank assistance. To qualify, companies must meet the U.S. Small Business Administration definition of a small-medium business, produce goods in the U.S., demonstrate 51 percent U.S. content for those goods, and have an export deal in the works.