FINWIRE®

US EX-IM bank finance export of metal-processing to Shanghai

August 20th, 2007

The US Export Import Bank (Ex-Im Bank) has guaranteed $ 20 million financing for export of metals-processing equipment to Shanghai Boashan Iron and Steel Co Ltd of China, to be exported by the Ukia based Retech Systems.

LLC The guaranteed lender, United Commercial Bank of San Francisco, is providing the loan facility to support three export contracts of Retech Systems with Baoshan.

The equipment will be used to increase titanium production for China’s domestic market. "Ex-Im Bank is pleased to assist Retech Systems in fulfilling these important contracts with a major Chinese company," said Ex-Im Bank Chairman and President James H. Lambright. "We are committed to helping the US companies, especially small businesses; tap the tremendous export sales opportunities to be found in China.

Over the past five years that Retech has been working with Ex-Im Bank, the Bank has assisted us on contracts all over the world that have a total value of over $55 million.”

“This support has enabled us to maintain our leadership position in these markets and create jobs in rural Mendocino County. It is inconceivable that we could have done it without Ex-Im Bank," said Retech Systems President Jim Goltz.

For the three Baoshan contracts, Retech Systems will manufacture an electron-beam furnace, a plasma-arc melting furnace and a plasma welder.

The equipment will be used to produce titanium ingots, which will be used to manufacture products for a wide range of industries.

Titanium is a metal valued for its strength, light weight, and corrosion and heat resistance.

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