Prospect Machine Products Receives Presidential “E” Award for Exports
Deep draw metal stamping manufacturer recognized for contributing to the expansion of U.S. exports.
Prospect, CT: U.S. Secretary of Commerce Wilbur Ross notified Prospect Machine Products of its selection to receive the President’s “E” award for exports. The President’s “E” Award is the highest recognition any U.S. business can receive for making a significant contribution to the expansion of U.S. exports.
“Prospect Machine Products has demonstrated a sustained commitment to export expansion. The “E” Awards Committee was very impressed with Prospect Machine Products’ more than doubling of export sales over the previous four years. The company’s use of government programs to identify buyers and further support international expansion was particularly notable. Prospect Machine Products’ achievements have undoubtedly contributed to national export expansion efforts that support the U.S. economy and create American jobs., ” said Secretary Ross in his congratulatory letter to the company announcing its selection.
“Exporting is an important part of our sales.” said Richards Laurenzi, Chairman/ CEO of Prospect Machine Products. “Buyers and consumers in foreign markets want quality products made in the United States, and we are honored to receive the E award. We are a small deep draw stamping manufacturer, a family business founded in 1950, so this greatly appreciated honor represents a milestone in our company’s history.”
In total, Secretary Ross honored 39 U.S. companies and organizations from across the country with the President’s “E” Award for their role in strengthening the U.S. economy by sharing American ingenuity outside of our borders. Out of the 39 companies and organizations, 24 were manufacturers.
U.S. companies are nominated for the “E” Awards through the U.S. Department of Commerce via their International Trade Division. With offices across the United States and in embassies and consulates around the world, The International Trade Division lends it expertise at every stage of the exporting process by promoting and facilitating exports and investment into the United States.
In 1961 President Kennedy signed an executive order reviving the World War II “E” symbol of excellence to honor and provide recognition to America’s exporters. Criteria for the award is based on four years of successive growth in one or more international markets.
About Prospect Machine Products
Prospect Machine Products is a contract manufacturer of deep draw metal stampings used in numerous commercial sectors including sealing technologies, medical devices, needle and ball bearings, industrial and compliance controls, and automotive. Deep draw forming is noted for its cost savings in material consumption and the elimination of post-production secondary operations.
For more information about the “E” Awards and benefits of exporting, visit: www.export.gov
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