The Export-Import Bank of the United States (US Ex-Im) has issued a medium-term insurance policy for the export of railroad track equipment from the US to Brazil by railway supply company Holland.
The original loan from PNC Bank in Pittsburgh, US, comes to US$1.7mn and will be used to finance the export of two track welding systems to Brazilian company Concrenor Industria e Comercio.
Frank Francis, Holland’s chief financial officer, praises the support gained by US Ex-Im: “Without US Ex-Im, this transaction would not have come to life. 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 economic goals of both of our countries.”
US Ex-Im’s chairman and president, Fred Hochberg, adds: “Brazil is a powerhouse among emerging markets and offers great opportunities for US companies. This transaction represents one of several types of financing assistance available to help US small businesses realise sales in Brazil.”
Last Updated May 24, 2010
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