The U.S. Export-Import Bank will support for a “seven-figure purchase” of two new American agricultural aircraft by Jose Antonio Goncalves Viana, a soybean and corn agribusiness in Brazil.
The buyer is a repeat customer of Air Tractor Inc., a small business manufacturer of specialty aircraft. For this transaction, Ex-Im Bank provided a medium-term insurance policy that was designed to mitigate risk in export of capital goods.
"We're pleased to support this sale to Brazil's food industry, where innovative U.S. products are being put to use," said Ex-Im Bank Chairman and President Fred P. Hochberg in a statement. “But the bank's long-standing relationship with Air Tractor owes to its competitive products and success in keeping global customers."
Air Tractor Inc. is based in Olney, Texas, and employs 275 workers to build its aircraft and customized equipment such as sprayers.
The bank's exposure to Brazil at of the end of fiscal year 2012 amounted to $3.3 billion.