Wilmington Paper Corp., Pine Brook, New Jersey, has been named an Exporter of the Year by the Export-Import Bank of the United States (EXIM), Washington. Wilmington is a family-owned business specializing in creating recycling management programs in folding carton and converting plants around the globe.
According to a news release from Wilmington, EXIM made the announcement during its 2020 Annual Conference, held virtually Sept. 9-11.
Established in 1977, Wilmington Paper has introduced recycling programs used by more than 250 facilities worldwide. In addition to exporting scrap, Wilmington provides a variety of services, including consultations that help customers establish recycling systems that capture fibers, plastics and metals for resale, allowing them to generate revenue from their recyclables.
“I am honored to recognize Wilmington Paper Corp. on behalf of EXIM for its outstanding contributions to fulfilling our agency’s mission of supporting American jobs by facilitating U.S. exports,” said EXIM President and Chairman Kimberly A. Reed, during the conference. “The winners of EXIM’s Exporter of the Year award come from every region of our country and many different industries, but all represent American ingenuity and success. Approximately 90 percent of EXIM’s authorizations directly support small businesses like the exporters being awarded today, and at EXIM we are proud to help in the success of these small businesses as they compete in the global marketplace and support American jobs.”
Wilmington Paper says exporting is a strategic growth initiative for its company. With the backing of an EXIM export credit insurance policy for environmentally beneficial products, the company was able to offer its foreign customers open account credit terms while at the same time reducing the risk of nonpayment. That allowed the company to enter crucial international markets in Asia, Europe and South America that otherwise would have been too risky for a small business. Wilmington says exports account for about 40 percent of total sales and support half of the company’s 40 employees.
“EXIM is integral to our business,” says Nini Krever, export sales specialist for Wilmington Paper. “Even though our claims have been minimal over the years, we would not have done the business we did without EXIM behind us.”
Since 2014, EXIM has supported exports valued at $3 billion from 142 companies, including 105 small businesses like Wilmington Paper Corp.