Export-Import Bank facilitates global exports for Appleton manufacturer
Day before reauthorization deadline, Baldwin brings attention to the importance of Export-Import Bank for Wisconsin manufacturing economy
WASHINGTON, D.C. – Today, U.S. Senator Tammy Baldwin visited Appvion, Inc. in Appleton, the day before the Export-Import Bank is set to expire due to inaction by the Republican Majority in the Senate. The innovative Wisconsin manufacturer has created economic growth with the support of Export-Import Bank investments.
Authorization of the Export-Import Bank is set to expire Tuesday, yet the Republican controlled Senate has failed to take action before the deadline. The Export-Import Bank is not only a vital export tool for small businesses, but an important tool for deficit reduction that returned $675 million to the U.S. Treasury last year.
“When American businesses have a level playing field, they can compete against anyone. The Export-Import Bank is an important tool that helps us create that level playing field, bringing fairness to global trade and supporting American businesses so they can create jobs and grow,” said Senator Baldwin. “Appvion is a great example of a Made in Wisconsin business here in the Fox Valley that has exported goods with help from the Bank. Reauthorizing the Export-Import Bank as soon as possible is a commonsense way to strengthen our Wisconsin economy and ensure American competitiveness.”
“Senator Baldwin is a champion of creating an environment for Wisconsin manufacturers to compete on a level playing field throughout the world. The Senator has consistently fought to protect Appvion from unfair trade practices of certain foreign competitors and she helped facilitate millions of dollars in exports from our company through her support of the Export-Import Bank,” said Mark Richards, Appvion Chief Executive Officer.
Since 2007, the Export-Import Bank has supported 27,131 Wisconsin jobs by helping 218 Wisconsin businesses, including 128 small businesses, export $5 billion worth of goods and products made in Wisconsin. In 2014 alone, the Export-Import Bank supported $210.2 million of Wisconsin exports, 46% of which were from small businesses. In 2014, the Export-Import Bank supported 3,340 small-business transactions, $27 billion in total U.S. export sales and 164,000 jobs.
Appvion, Inc. produces thermal, carbonless and security papers, and Encapsys microencapsulated products. The company was founded in 1907 on the site of its current headquarters in Appleton. Appvion has manufacturing operations in Wisconsin, Ohio and Pennsylvania; employs approximately 1,600 people, including 1,000 in Wisconsin; and is 100 percent employee-owned.
The Ex-Im Bank has provided export credit insurance for Appvion, facilitating the export of millions of dollars’ worth of Appvion product and mitigating Appvion’s risk in transactions where they are unable to obtain private export insurance. Without obtaining this insurance, it is possible Appvion would not have been able to export their products and make a profit.
Appvion is among 27 Wisconsin businesses in the 8th Congressional District that have benefitted from the support of the Ex-Im Bank since 2007.
Senator Baldwin has called for a long-term reauthorization of the Export-Import Bank and been a strong supporter of the Fox Valley manufacturer and Wisconsin’s paper industry.
Last year, Senator Baldwin delivered testimony on behalf of Appvion at an International Trade Commission (ITC) hearing on an antidumping investigation of paper imports from China and Germany. Senator Baldwin highlighted the importance of the paper industry in Wisconsin and addressed how Appvion and the domestic marketplace are impacted by dumped imports.
Tomorrow, Senator Baldwin will visit Fristam Pumps USA in Middleton. Their products are used by beverage, brewing, bio-pharmaceutical and food processing companies throughout the world. Exports account for about 20% of their current business. Export-Import Bank investments and credit insurance allows for Fristam Pumps to continue growing and expanding their export efforts.