Posted on November 23, 2020 by cthomas
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. entity 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.
Locally, U.S. Senators Blumenthal and Murphy, State Senator Rob Sampson and State Representative Lezlye Zupkus announced that Prospect Machine Products and Connecticut Center for Advanced Technology, Inc have received, respectively, The Presidents “E” Award for Exports.
State Senator Rob Sampson said, “Congratulations to Prospect Machine Products for their outstanding operation which earned them this prestigious recognition. You have established yourselves as one of the most trusted manufacturing companies in the country and the world.”
“I am so proud to have a company as innovative and successful as Prospect Machine located right here in Prospect,” said Rep. Lezlye Zupkus. “This recognition is truly deserved and showcases our entire community in such a positive light.”
“This landmark recognition is hugely impressive and important. You have my congratulations— and gratitude— for dramatically advancing exports and economic growth in our state. You’re putting Connecticut on the map, and putting people to work, through major job creation.” said Blumenthal.
“This award is a testament to the strength of Connecticut manufacturers. Prospect Machine Products and Connecticut Center for Advanced Technology, Inc. are bringing Connecticut products and expertise to markets around the world,” said Murphy. “I commend these companies on their impressive track record and will continue to advocate for expanding support of U.S. global exports and Connecticut manufacturing.”
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.
“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 Administration lends it expertise at every stage of the exporting process by promoting and facilitating exports and investment into the United States; administering Anti-Dumping and Countervailing Duties orders; and removing, reducing, or preventing foreign trade barriers.
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.
For more information about the “E” Awards and benefits of exporting, visit: www.export.gov.