Fireaway Inc. is a recipient of the 2020 EXIM Export of the Year Award. We were honored during EXIM’s virtual 2020 Annual Conference, the largest in the agency’s history, which was held in September. Export-Import Bank of the United States (EXIM) President and Chairman Kimberly A. Reed decided to present the award in person to Fireaway President and CEO Lance D. Harry on October 13.
Fireaway uses export credit insurance to offer customers favorable credit terms. As a small business with limited resources, this support is critical to Fireaway’s exporting success by providing working capital cash flow and mitigating the risk of nonpayment. Due to EXIM, Fireaway was able to increase sales in existing markets and expand into new ones, currently exporting to 44 countries. With more than 82 percent of 2019 revenue generated by international sales, all 50 jobs are supported by exports. EXIM has supported Fireaway exports valued at more than $12 million since 2018. The company’s policy is facilitated by EXIM broker Trade Acceptance Group, Ltd., of Edina, Minnesota.
“I am honored to present this award on behalf of EXIM to Fireaway, a great Minnesota success story,” said EXIM Chairman Reed. “This small business, which provides fire suppression systems deployed to some of the toughest and most dangerous conditions, represents the backbone of the American economy, and their success has contributed to fulfilling our agency’s mission of supporting American jobs by facilitating U.S. exports.”
Following the award presentation, Lance Harry presented on our products and the applications our Stat-X® fire suppression products are designed to protect. Following the company presentation, Keath Young, COO/CFO led a tour of our production and shipping operations. Congressman Dean Phillips, from Minnesota’s Third District, was in town and able to join the celebration. Dean serves on the House Financial Services Committee.
“We are honored that Kimberly A. Reed, President and Chairman of the Export-Import Bank of the United States, visited our facility today to present the Exporter of the Year award in person,” said Fireaway President and CEO Lance Harry. He continued, “EXIM’s support has been a vital part of our success, allowing us to increase global sales and our revenue.”
For more information about EXIM, please visit www.exim.gov.