COLLIERVILLE, Tenn.-based Floratine Products Group, a manufacturer and worldwide distributor of foliar and soil-based turfgrass solutions, was honored with a visit from Fred P. Hochberg, chairman and president of the Export-Import (Ex-Im) Bank of the United States, who also invited Floratine to speak at the White House on behalf of the Ex-Im Bank.
During his visit, Hochberg toured the Floratine corporate office and manufacturing facility in Collierville alongside Floratine co-owner and vice president Mike Cavanaugh and other members of the Floratine executive team. Since Hochberg’s instatement, the Ex-Im Bank has supported more than 205,000 jobs with 3,400 U.S. companies, including Floratine.
Every five years, Congress meets to reauthorize the Ex-Im Bank charter. Floratine, a United States-based corporation that distributes foliar nutrition technologies to major golf markets in more than 35 countries, has been working with the Ex-Im Bank since it began distributing internationally. Cavanaugh spoke on the subject at the White House in support of renewing the charter.
“Working with the Ex-Im Bank allows us to keep our manufacturing processes here in the U.S. while continuing to conduct business globally,” explains Cavanaugh. “They have supported thousands of jobs in the U.S. To cancel the charter now would be detrimental.”
Franklin D. Roosevelt started the Ex-Im bank in 1934 with the purpose of financing and insuring foreign purchases of U.S. goods. The mission of the bank is to create and sustain U.S. jobs, and it ensures the sales of U.S. products to international buyers. When buyers outside of the U.S. want to export goods, the Ex-Im Bank is there to provide a loan when commercial lenders are either unable or unwilling to do so.