Maker Of Liquid Handling Solutions Exports With Help Of U.S. Bank
Murray Equipment, Inc. – Fort Wayne, Indiana
For over 60 years, Murray Equipment, Inc. has been an industry leader in the design, manufacture, and distribution of liquid handling solutions. One of its brands, Total Control Systems (TCS), is a leading ISO-9001 certified manufacturer of piston and rotary positive displacement flow meters located in Fort Wayne, Indiana.
In 2001, the firm started exporting the rotary meters. David Musselman, Chief Financial Officer and Chief Operating Officer, says, “The question then became how do we meet the customers’ needs to be able to purchase our product on credit terms. Our competition was offering it, and if we wanted to expand into that market we needed to offer it too.”
Enter the Export-Import Bank of the United States (Ex-Im). Since 2001, TCS has come to know Ex-Im as a reliable supplier of credit insurance, and has been able to offer increased lines of credit as its customer base grows.
However, without congressional reauthorization, Ex-Im’s charter will expire on September 30, and Ex-Im will no longer be able to offer financing terms to small companies like TCS. Today 50 percent of TCS’s manufactured goods are exported, and they are increasing their market share rapidly. TCS President Steve Murray says, “Ex-Im Bank plays a key role in our international growth. It is part of doing business and is a great opportunity.”