Case New Holland hosted the chairman of the U.S. Export-Import Bank (Ex-Im Bank), Fred Hochberg, at its Racine, Wis., tractor plant, where 40% of its manufactured tractors were exported in 2009.
Ex-Im Bank is the official export credit agency of the United States and its mission is to assist in financing the export of U.S. goods and services to international markets.
According to news release, for more than 70 years the bank has supported over $400 billion of U.S. exports, primarily to developing markets worldwide. In 2009, the bank experienced its best year ever, as it provided over $21 billion in support for U.S. businesses and this year it is already well ahead of that number having tripled its volume of activity in the first quarter.
CNH CEO Harold Boyanovsky highlighted the business significance of the event, saying in statement, "CNH already exports over 25% of the machines it produces in the U.S. and with the help of Ex-Im Bank we aim to increase our international business and, with that, create new U.S. jobs — both at CNH and at our supplier-partners around the country."
Boyanovsky also used the event to showcase CNH's employee trade education campaign (www.cnhtrade.com) and to thank the 1,375 supplier-partners in 43 states, who all together employ more than 570,000 people to bring CNH equipment to the market.
"I am delighted to tour Case New Holland's plant today that manufactures world class agricultural equipment. Ex-Im Bank's support of the growth of exports from CNH's Racine plant and throughout the United States will help to achieve President Obama's goal of doubling exports over the next five years," Hochberg said.
"We are honored to host the Chairman today in Racine. Ex-Im Bank supports great jobs in the U.S. like the jobs we have here at CNH and those of our supplier-partners," said Joseph Samora, CNH's head of government and external affairs, who recently was appointed to the 2010 Ex-Im Bank Advisory Committee.