Ex-Im Bank Helps Small Businesses Think Big
Fritz-Pak Corp. – Mesquite, Texas
Since 1998, the Fritz-Pak Corporation has been locally manufacturing concrete admixtures and chemicals in Mesquite, Texas. As a sub-supplier of the construction industry, Fritz-Pak’s line of over forty specialty products makes creating, handling, and placing high performance concrete easy and efficient.
As President and founder of the Fritz-Pak Corporation, Gabriel Ojeda worked hard to increase sales from less than $1 million to over $3 million by 2007. International sales were at a mere fifteen percent as domestic business boomed. However, the 2008 financial crisis and recession hit the construction industry hard, and as a company that relied heavily on new construction orders, Fritz-Pak’s sales fell over thirty percent, forcing a round of layoffs the next year. After pouring years of his life into its success, Mr. Ojeda even considered selling the company.
In a last-ditch effort to save his business, Mr. Ojeda decided to explore exporting and promoting Fritz-Pak’s products overseas to increase revenues. “Expanding internationally had always appealed to us,” but figuring out how to do so “during the worst recession in our lifetime seemed like a pipe dream,” says Mr. Ojeda.
After consulting with bankers at Comerica, Mr. Ojeda was put in touch with Ex-Im Bank. Using the Bank’s short-term export credit insurance program, Fritz-Pak was able to insure their international receivables at minimal cost, affording them a valuable safety net when exporting abroad. In fact, over the past five years, Fritz-Pak has increased its international sales to over 35% of its business, with major trading partners in over 30 different countries including Brazil, India, Russia, and Taiwan. Its products were even used in construction of the 2014 Sochi Winter Olympics.
With Ex-Im Bank’s help, Fritz-Pak Corporation remains an American manufacturer of the best concrete admixtures in the world, selling its goods as far north as Yellowknife, Canada and as far south as Wellington, New Zealand. “In an age where everything seems to be made some place else, we’re thriving here in the USA,” says Mr. Ojeda. “It is in no small part due to the services provided by Ex-Im Bank. “