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Press Release

Thursday, December 22, 2005

U.S. Small Business Uses OPIC Loan to Provide Dome Technology to Russia

WASHINGTON, D.C. – A U.S. small business will use a loan from the Overseas Private Investment Corporation (OPIC) to introduce air-supported dome technology to Russia, providing industries and municipalities in the country with an affordable option for recreational and industrial facilities, OPIC President and CEO Robert Mosbacher, Jr. announced today.

OPIC will provide a $1.95 million loan to a Russian subsidiary of IPD Sales and Marketing, a Missouri Limited Liability Company. IPD S&M’s subsidiary, Air Structures American Technologies and Investment (ASATI) of Moscow will utilize the OPIC funding for establishment of a manufacturing facility in Obninsk, 40 miles southwest of Moscow. There ASATI Moscow will custom design, manufacture and assemble air-structure buildings for clients operating primarily in the sports/recreation, industrial/natural resources, agriculture, and construction applications sectors.

Among potential uses, the domed structures could serve to cover waste sites, in order to prevent the emission of harmful matter into the atmosphere. ASATI Moscow will employ major material-supplier networks and state-of-the-art equipment and machinery, making the manufacturing operation efficient and cost-effective.

The project will also generate a demonstration air-structure building, to be located in the Moscow Expo Center, and a design, sales, and administrative office in Moscow, as well as 20 local jobs.

Another American company is contributing to the project: Johnson Heater Corporation dba Johnson-MarCraft Inc., also a Missouri based Corporation, will sell air-handling equipment, a major component of air structure technology, to the operation.

“This project will improve Russia’s physical infrastructure, through the introduction of multi-use and affordable domed structures, in the process transferring American technology and management standards and creating meaningful employment for Russians,” Mosbacher said. “OPIC is pleased to work with a U.S. small business on a project with so many developmental benefits.”


OPIC is the U.S. Government’s development finance institution.  It mobilizes private capital to help solve critical development challenges and in doing so, advances U.S. foreign policy.  Because OPIC works with the U.S. private sector, it helps U.S. businesses gain footholds in emerging markets catalyzing revenues, jobs and growth opportunities both at home and abroad.  OPIC achieves its mission by providing investors with financing, guarantees, political risk insurance, and support for private equity investment funds.

 

Established as an agency of the U.S. Government in 1971, OPIC operates on a self-sustaining basis at no net cost to American taxpayers. OPIC services are available for new and expanding business enterprises in more than 150 countries worldwide. To date, OPIC has supported nearly $200 billion of investment in over 4,000 projects, generated $74 billion in U.S. exports and supported more than 275,000 American jobs.