Ex-Im Bank Officials Visit Ace Pump

Fred P. Hochberg, Chairman and President of the Export-Import Bank of the U.S. (Ex-Im Bank) recently visited Ace Pump Corporation’s headquarters in Memphis, TN, to discuss how the bank helps small businesses create American jobs by expanding exports. The visit was part of a 28-city tour by Chairman Hochberg and other Ex-Im Bank officials.

“The Export-Import Bank has helped us double our export sales since we first started working with them in 2008,” said Andy Randle, President of Ace Pump. “The Bank insures our receivables so we can supply our export customers and be confident we’ll be paid. It also allows us to offer competitive terms of up to 120 days, which can be crucial due to the lengthy shipping times with overseas orders.” Export sales support approximately 10% of Ace Pump’s total workforce, with shipments to the Americas, the European Union, Eastern Europe, South Africa and Australia accounting for most of the company’s foreign business.

Hochberg toured the company’s manufacturing plant and learned how its hydraulically driven centrifugal pumps are exported directly to foreign aftermarket suppliers, and also indirectly as OEM components on crop sprayers, concrete trucks, asphalt milling machines, de-icing trucks and turf sprayers.

(l to r) Ace Pump CEO Roy Bell III and President Andy Randle with Export-Import Bank Chairman Fred P. Hochberg

Ace Pump Corp.—Association member since 2000; AcePumps.com. S