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EX-IM Bank Backs $7 Million Sale of TV Picture Tube and Screen Manufacturing Equipment to Lithuania

September 26, 2000

AB EKRANAS, Penevezys, Lithuania is purchasing $7 million of television tube and screen manufacturing equipment to modernize its facilities with the backing of medium-term insurance from the Export-Import Bank of the United States (Ex-Im Bank) and financing from SunTrust Bank of Atlanta, Ga.

EKRANAS was established in 1962 as a state-owned enterprise and privatized in 1994. Lynch Systems, Bainbridge Ga., will provide EKRANAS with a HLT-11 funnel press machine and a Lynch HLT-11 panel press machine for the production of television screens. The funnel machine will enable EKRANAS to make complete television tube assemblies and increase its production by over 40 percent. The panel press machine will allow for the manufacture of true flat screen panels and will be used in EKRANAS=s new third production line.

On a business development mission to Vilnius, Lithuania, in June, Ex-Im Bank Vice Chair Jackie Clegg met with executives at EKRANAS and encouraged them to seek Ex-Im Bank financing for their U.S. purchases. 

AWe wanted EKRANAS to know that Ex-Im Bank can help private sector companies obtain affordable terms for the purchase of US‑made goods and services,@ Clegg said. AThe fact that we were able to approve this transaction in such short order sends a clear signal to Lithuania that Ex-Im Bank is open for business. Ex-Im Bank is continuing this momentum by sending business development officers to Lithuania later this year on a follow-up trade mission.@

Ex-Im Bank is an independent federal government agency that provides export credit insurance, working capital guarantees, loans and loan guarantees to help finance exports of U.S. goods and services around the world, particularly to developing markets. In fiscal year 1999, Ex-Im Bank supported nearly $17 billion of U.S. exports worldwide.

Visit Ex-Im Bank's Website at www.exim.gov