Ex-Im Bank Asked to Finance Exports of Aluminum Can Production Equipment to China
The Export-Import Bank is re-notifying and requesting comments through Aug. 1 on a request it has received for a $99 million comprehensive loan guarantee to support the export of approximately $90 million worth of aluminum beverage cans and ends manufacturing equipment to China. The U.S. exports will enable the Chinese company to produce approximately 2.8 billion aluminum cans per year and to expand its existing annual ends production capacities by 3.9 billion ends. All new production will be sold within China. Ex-Im Bank notes that it is re-notifying this transaction due to the length of time that has elapsed since it was initially posted (June 10, 2013) and because the transaction has not yet been submitted to the Board for consideration.