News

Hand Held Products, Inc., Charlotte, NC,will supply barcode scanning devices and portable data collection computer terminals to the largest cargo express company in Turkey, Aras Kargo Yurtici ve Yurtdisi Tasimacilik A.S. (Aras), Istanbul, as part of a $998,000 export contract backed by insurance from the Export-Import Bank of the United States (Ex-Im Bank). Ex-Im Bank is supporting the sale to Aras with an $898,668 medium-term insurance policy issued by Allfirst Bank N.A., Baltimore, MD (Allfirst).

This transaction will make it possible for Aras to upgrade its air and land cargo carrying services by centralizing delivery services and automating its regional cargo distribution facilities. The shipment of data collection computers, assembled in Charlotte, NC, to Aras will improve cargo services to Aras' customers in Turkey and in 200 countries worldwide.

In another Ex-Im Bank supported Turkish transaction, Kase Equipment Corporation, Inc., Willoughby, OH is exporting a six color printing machine including parts to Garanti Finansal Kiralama A.S. (Garanti Leasing), Istanbul, Turkey. The export contract of $330,000 is supported by an Ex-Im Bank medium-term insurance policy that was issued to the Bank of New York, N.A., New York, NY in the amount of $293,038 and brokered by the Export Insurance Agency.

Established in 1964, Kase as a family-owned small business was able to sell a machine that prints on preformed plastic containers and lids to a leasing company which belongs to one of the largest conglomerates in Turkey with interests that include food processing and retail.

Ex-Im Bank is truly committed to provide financing to small U.S. businesses exporting to Turkey and other emerging markets, said Ex-Im Bank Chairman James A. Harmon. It is gratifying to see the effectiveness of the Bank's programs in helping small businesses to grow by exporting to new markets, such as Turkey.

This year Turkey has become Ex-Im Bank's fourth largest market, up from fifth place in fiscal year 1999. Ex-Im Bank is open in Turkey under all of its short-, medium- and long-term programs which are available in both private and public sectors. Ex-Im Bank authorized $420 million in financing of U.S. exports to Turkey in fiscal year 1999.

Ex-Im Bank is an independent U.S. government agency that helps finance the sales of U.S. goods and services to developing and emerging markets around the world through loan, guarantee and export credit insurance programs. Ex-Im Bank is proactive in its effort to reach more small businesses throughout the exporting community. In fiscal year 1999, Ex-Im Bank supported nearly $17 billion of U.S. exports worldwide.