News From Reamco Incorporated
Reamco Receives Presidential Award for Exports
BROUSSARD, La. (May 20, 2013) – Reamco, Inc. was presented with the President's "E" Award for Exports by U.S. Acting Secretary of Commerce Rebecca Blank at a ceremony in Washington, D.C. The "E" Awards are the highest recognition any U.S. entity may receive for making a significant contribution to the expansion of U.S. exports.
"Exporting continues to be the foundation of our sales growth, and we are honored to receive the "E" Award," said Reamco CEO Ashley Lane. "From our inception in 1985 until the late 1990s Reamco's export sales accounted for 20% of total revenue, but since 1999 export sales have grown significantly and over the last two years export sales now account for 70% of our total sales, enabling us to add additional capacity, sustain existing jobs and even expand our work force. A dedicated and skilled work force is also a major contributing factor to our continued success."
Lane adds, "As we expand our international coverage through a network of marketing contacts and local alliances, we expect to increase our market share and solidify our position in the sale and rental of downhole drilling tools to the global oil & gas industry."
"I am delighted to be recognizing this year's Presidential 'E' Award winners for their outstanding contributions to U.S. exports and congratulate Reamco, Inc. on its outstanding export achievement," said Acting Secretary Blank. "It is businesses like Reamco that are strengthening the economies of local communities, creating jobs, and contributing to the worldwide demand for 'Made in the USA' goods and services."
U.S. exports hit an all-time record of $2.2 trillion in 2012, and supported nearly 10 million American jobs. President Obama's National Export Initiative, which aims to double U.S. exports by the end of 2014 and support an additional two (2) million jobs in the United States, is opening new avenues for U.S. exporters through enhanced export assistance and a strengthened trade agenda that is targeting emerging markets and industry sectors across the globe.
President Kennedy revived the World War II "E" symbol of excellence to honor and provide recognition to America's exporters. The "E" Award Program was established by Executive Order 10978 on December 5, 1961. A total of 57 U.S. companies were presented with the President's "E" Award this year.
U.S. companies are nominated for the "E" Award for Exports through the Department of Commerce's U.S. and Foreign Commercial Service office network, located within the Department's International Trade Administration, which has offices in 108 U.S. cities and more than 70 countries to help U.S. exporters. Four years of successive export growth and an applicant's demonstration of an innovative international marketing plan that led to the increase in exports is a significant factor in making the award.
Reamco, Inc. is an international drilling tool manufacturing, rental and refurbishing provider that focuses on providing quality services and products to the oil and gas industry. With more than two centuries of combined oilfield experience on staff, Reamco, Inc. has the capability to deliver accurate and dependable tools and the attention to detail each job deserves.