Maine Company's Technology Used in Sudan Election
WASHINGTON, March 28, 2011 /PRNewswire-USNewswire/ -- Planson International Corporation, a small, woman-owned tech company headquartered in New Gloucester, Maine, is to receive the 2011 Sub-Saharan Africa Exporter of the Year award from the Export-Import Bank of the United States (Ex-Im Bank). The award will be presented at the Bank's annual conference in Washington, D.C., on Thursday, March 31st.
Planson used a $1.5 million revolving working capital loan guarantee from Ex-Im Bank to export computers and software to Sudan for use during the historic referendum for Southern Sudan Independence. This technology was used for voter registration, demographic data analysis, vote tallying, and post-referendum policy development. Ex-Im Bank obtained a presidential wavier to support the sale.
In a memorandum, President Obama cited "the national security interest of the United States," and waived a section of the Trade Sanctions Reform and Export Enhancement Act that banned U.S. export assistance to Sudan. Thus the waiver allowed the export of U.S. computers and related equipment in fulfillment of this contract.
"Planson International Corporation has demonstrated how U.S. companies can make a positive influence internationally while also creating American jobs," said Ex-Im Bank Chairman and President Fred P. Hochberg. "I am pleased that Planson's technology was used to support the democratic election process in Sudan."
"Our 2010 U.S.-made export sales grew 20% to over $12 million, and our number of fulltime U.S. employees grew by 50%," said Planson's President Connie Justice. "Ex-Im Bank's Working Capital Guarantee program gave us the ability to achieve this growth. We simply could not have reached this level of success without Ex-Im's backing. And we are very proud that this financing allowed us to support the important referendum in Sudan."
Ex-Im Bank's Annual Conference on March 31st – April 1st will be held at the Omni Shoreham Hotel in Washington, D.C. The award ceremony will take place at 1:45 p.m. on March 31st.
Ex-Im Bank is an independent federal agency that helps create and maintain U.S. jobs by filling gaps in private sector export financing at no cost to American taxpayers. The Bank provides a variety of financing products, including working capital guarantees, export-credit insurance, and financing to help foreign buyers purchase U.S. capital goods and services.
By charging fees and interest on all loan related transactions, Ex-Im Bank is self-sustaining. It is able to cover all operation costs and potential losses while also producing revenue. The Bank has generated $3.4 billion for U.S. taxpayers over the past 5 years.
SOURCE Export-Import Bank of the United States