Penn United Technologies Inc – Saxonburg, PA
In the heart of Pennsylvania just northeast of Pittsburgh, Penn United Technologies Inc. got its start in 1971 as a small tool-and-die shop. Nearly 45 years later, Penn United is still going strong as an employee-owned company – the twelfth-largest employer in Butler County, PA, now spanning half million square feet of manufacturing by 620 employees across oil & gas, petrochemical, electronics, medical, aerospace, and defense industries.
Jesse Rothschild, Business Development Manager at Penn United for the past 6 years, first learned of Ex-Im bank while working in Baton Rouge.
“We needed additional financing for coal gasification burner nozzles being exported to China, beyond the local bank’s capabilities. That’s when we started doing research and found Ex-Im bank – they funded us on the projects and as a direct result we hired six new staff,” said Rothchild. “On the tail of that, that company landed a $70M 1.5 year contact to export to India. That added another 25 jobs. Those skilled manufacturing trades are a direct result of Ex-Im.”
Rothschild adds that the oil prices are already adding pressure to his industry, and the possibility of the Ex-Im bank shutting down is yet another threat to job growth.
“We are already stressed with employment, trying to keep people on board until oil prices recover. We can’t afford this right now,” said Rothschild. “It’s a matter of keeping us competitive globally.”