Chairman & President of the Export-Import Bank of the United States to visit Power Technologypowertechno
Power Technology, Inc., a leader in the Laser Industry for 45 years, will host a visit from Fred P. Hochberg, Chairman and President of the Export-Import Bank of the United States (Ex-Im Bank). The visit will begin at 12:00 noon on April 7 and is open to the press.
“We are honored that Chairman Hochberg chose to visit Power Technology. Ex-Im Bank’s ability to finance overseas buyers enables sales of our newest and most expensive product. Ex-Im Bank’s financing removes hurdles for foreign buyers and helps promote additional sales. Our newest product is a light source for Laser Illuminated Projection. It will thrill movie audiences by producing a brighter image with more vivid colors than they experience today. Theater owners get a lower cost of operations as a benefit.“ said William Burgess, VP of Operations.
Power Technology expects 30 new jobs to be created by this new product. PTI has been a high tech exporter for over three decades. In 2014, Power Technology exported to 42 different countries.
Burgess continued by saying “Power Technology is strongly in support of renewing the Ex-Im Bank’s charter in the coming months. Many countries have similar export banks engaged in similar activities. For example, the Chinese export bank has financed more transactions in the last two years than in the entire 80-year history of the Ex-Im bank. If the Ex-Im Bank’s charter was not renewed, it would be a significant blow to the United States as a global economic power. We would not be competitive in global business and thousands of jobs in every state would be lost. “