Showing posts with label CANADA. Show all posts
Showing posts with label CANADA. Show all posts

Saturday, March 3, 2012

$83 MILLION APPROVED BY EX-IM BANK FOR FINANCING LOCOMOTIVE SALES TO CANADA

The following excerpt is from the Export-Import Bank website:

Ex-Im Bank Approves $83 Million in Export Financing for Sale of U.S.  Locomotives to Canada

Transaction Supports 500 American Jobs Across Six States
WASHINGTON, D.C. --- The Export-Import Bank of the United States (Ex-Im Bank) approved an $83.1 million loan guarantee to support the sale of six American-made locomotives, railroad cars, and mining equipment to the Iron Ore Company of Canada (IOC). This transaction supported 500 U.S. jobs across a range of American businesses in six states (Arkansas, Illinois, Missouri, Tennessee, Virginia and Wisconsin).

“As global infrastructure investment increases, high quality, American-made locomotives and equipment are in demand around the world,” said Fred P. Hochberg, chairman and president of Ex-Im Bank.  “Ex-Im is committed to ensuring that the financing is in place to allow American companies to win a growing share of these sales. These transactions bolster our manufacturing base, while creating, supporting and sustaining good jobs in communities across the United States.”

2011 was a record year in locomotive financing for Ex-Im Bank, with more than $550 million supporting the sale of American-made locomotives to hard to reach markets, including Kazakhstan and South Africa.

The U.S. companies involved in the IOC transaction include Electro-Motive Diesel, Inc. (EMD) (LaGrange, Ill.), American Rail Car Industries Inc. (St. Charles, Mo.), Freightcar America Inc. (Chicago, Ill.), Harnischfeger Corp. (Milwaukee, Wisc.), Komatsu America Corp. (Peoria, Ill.), and Caterpillar, Inc. (Peoria, Ill.). Comerica Bank (Detroit, Mich.) is the guaranteed lender.

“These companies build products that are built to last and in the process they are building an American economy that is built to last – one that is driven by manufacturing, exports and the most talented and productive workers in the world,” added Hochberg.
This is the second order backed by Ex-Im Bank financing for IOC. The locomotives, railroad cars, and mining equipment are being used to expand IOC’s production in Labrador City, Newfoundland.

ABOUT EX-IM BANK
Ex-Im Bank is an independent federal agency that helps create and maintain U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. In the past five years, Ex-Im Bank has earned for U.S. taxpayers nearly $1.9 billion above the cost of operations. The Bank provides a variety of financing mechanisms, including working capital guarantees, export-credit insurance and financing to help foreign buyers purchase U.S. goods and services.

Ex-Im Bank approved $32.7 billion in total authorizations in FY 2011 -- an all-time Ex-Im record. This total includes more than $6 billion directly supporting small-business export sales -- also an Ex-Im record. Ex-Im Bank's total authorizations are supporting an estimated $41 billion in U.S. export sales and approximately 290,000 American jobs in communities across the country.”


THE CROSS BORDER CRIME FORUM IN OTTAWA, CANADA


The following excerpt is from the Department of Justice website:

Friday, March 2, 2012
“Readout of Attorney General Eric Holder and Secretary Janet Napolitano’s Trip to Ottawa, Canada
U.S. Attorney General Eric Holder and Secretary of Homeland Security Janet Napolitano today visited Ottawa, Canada to participate in the Cross-Border Crime Forum with Canadian Minister of Justice and Attorney General Rob Nicholson, and Canadian Minister of Public Safety Vic Toews.  Secretary Napolitano, Attorney General Holder and Minister Toews also signed a memorandum of understanding to better prevent and combat human smuggling and trafficking.

“Our productive discussions today at the Cross Border Crime Forum go a long way toward advancing a key pillar of the Beyond the Border initiative that President Barack Obama and Prime Minister Stephen Harper signed last year: integrated law enforcement that adds value to our relationship by leveraging shared resources, improving information sharing and increasing coordination of efforts, while ensuring the safety of the citizens of both our countries,” said Attorney General Holder.  “ I am grateful to our Canadian counterparts for their indispensable work to combat exploitation, abuse, and violence; and to strengthen the critical ties that bind our nations together. With the signing of this important memorandum, we signal a renewed commitment to the goals and values that our nations share to prevent and combat human trafficking.”

 “We must stop individuals and transnational criminal organizations that seek to exploit the border shared by the United States and Canada to traffic drugs, arms and other illicit goods,” said Secretary Napolitano. “We will continue to work closely with our Canadian partners through greater operational collaboration and intelligence sharing to strengthen the security of both our nations within, at, and away from our border.”

During the Forum, Secretary Napolitano, Attorney General Holder, Canadian Minister of Justice and Attorney General Nicholson and Minister Toews discussed collaborative efforts to advance President Obama and Prime Minister Harper’s Beyond the Border: A Shared Vision for Perimeter Security and Economic Competitiveness initiative.  The Beyond the Border Action Plan outlines the specific steps both countries will take to achieve the security and economic competitiveness goals from the Beyond the Border Declaration.  They also focused on efforts to develop the next-generation of integrated cross-border law enforcement operations, and improve information sharing practices to enhance the mutual security of the United States and Canada.


“Our Government is pleased to work with our U.S. counterparts to combat cross-border crime,” said the Honorable Rob Nicholson. “Ongoing cooperation between our countries allows for the most effective investigation and prosecution of crime when criminal activities cross our border.”

“The Forum remains an excellent opportunity for Canada and the U.S. to advance cooperation in the areas of law enforcement, criminal justice and intelligence,” said Minister Toews. “Our government is focused on the economy and creating jobs, and I am particularly pleased with the progress being made on initiatives announced under the Beyond the Border Action Plan.”

While in Ottawa, Attorney General Holder, Secretary Napolitano and Minister Toews signed a memorandum of understanding between the U.S. Human Smuggling and Trafficking Center and the Canadian Human Trafficking National Coordination Center.  The agreement between these two centers will facilitate the sharing of critical information on human trafficking to combat and disrupt transnational criminal organizations.”





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