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US EXIM financial support for the American manufacturer
The Export-Import Bank of the US decided to support the sale of the bridge components to the Road Development Agency, which is situated in the Zambian Republic. The elements are made of steel and manufactured by Acrow Corporation of America. The support was decided to be financial. EXIM gave a $73-million loan, which was directed to the export of over 140 bridge elements. As a result, they hoped not just to support the infrastructure improvement in Zambia but also to improve the competitiveness of the US manufacturer. Over 200 jobs were created because of such a decision. They appeared on various Acrow’s facilities, such as ones in New Jersey, Milton, and Delaware.
EXIM keeps to the general policy of the export of the USA-manufactured products and services to the region of Sub-Sahara. They already supported such projects in 2014 (with $2 billion of financing). It was the largest financing for 81 years.
The latest contribution to the export of Africa allowed creating access to schools, hospitals, and other facilities in Zambia. Besides, it helped improve its economic situation. At the same time, the US producer managed to become more integrated with the global market. They were selected among the other prosperous firms from Europe and China to deliver the bridge components.
The recent news says that EXIM’s charter has already expired.
Acrow Corporation: general information
Acrow is known as a design and engineering company. Their main direction is the production of steel bridge elements. The type of the components depends on the purpose of their application. There are:
- emergency variations.
The firm was established over 50 years ago. During its history, the company managed to supply lots of rural and urban places with the fine bridge constructions. The company cooperates with the customers from different parts of the globe providing the strong transportation infrastructure.
The manufacturer understands that bridges’ elements production is a great responsibility. In their work, they keep to the principles of high quality, sustainability, and safety. The company works with new constructions and with the replacement of the aging ones. Thanks to their professionalism, they can bring people and communities together.
More details are available on their website.