January 28, 2014

Suzanne West Clark
(804) 545-5806
Abingdon Company Selected to Participate in Virginia’s VALET Program
-Two-year export program provides resources to support international business-

RICHMOND - The Virginia Economic Development Partnership (VEDP) today announced the acceptance of Damascus Corporation, based in Abingdon, into its two-year Virginia Leaders in Export Trade (VALET) program. Launched in January 2002, the program assists exporters in the Commonwealth that have firmly established domestic operations and are committed to international exporting as an expansion strategy. Participating firms are chosen based on their dedication to growth through export.

Currently, the VALET program has 50 companies as participants. New participants in the program have access to $15,000 in reimbursement funds from the Commonwealth. The program provides participating companies assistance from a team of experienced international service providers to help meet their international goals. Private sector service providers, such as attorneys, web designers, bankers, translators, accountants and freight forwarders, contribute essential expertise to assist companies in executing their export initiatives.

Damascus Corporation joins the program as part of the 25th class of the VALET program. To participate, each eligible business must meet several quantitative criteria and complete an application process. To date, 209 Virginia companies have been accepted to participate in the VALET program.

“The VALET program puts participating companies on the fast track to international business growth by connecting them with the necessary tools for successful export sales,” said Paul Grossman, VEDP Vice President of International Trade. “Since its inception in 2002, the program has worked with more than 200 businesses to accelerate their international sales growth. Because of the program’s proven success and because jobs are created when Virginia companies sell more into global markets, it is important that we continue to assist Virginia companies through the program. We are happy to welcome Damascus Corporation to VALET and look forward to working with them over the course of the next two years.”

Damascus Corporation, formerly known as the Damascus Pneumatics Corporation, was founded in Damascus, Virginia in 1980. At that time, the company produced pneumatically operated rock dusting equipment and hydraulic drills for the underground coal mining industry. The business enjoyed a steady growth and became known for its quality products in the region comprising Southwest Virginia, West Virginia, Kentucky and Pennsylvania. In 1992, Damascus Corporation moved to a larger building in Washington County near Abingdon, Virginia. Demands of the industry again sparked the birth of a new product, the diesel-powered MAC-8D. Constant product development and improvement is the key to its continued success. As the mining industry develops it will demand new and improved products and Damascus Corporation will continue to be a reliable and innovative supplier of personnel transporters.

The Virginia Economic Development Partnership, a marketing organization, was created by the Virginia General Assembly in 1995 to encourage, stimulate, and support the development and expansion of the economy of the Commonwealth. The Partnership is a state authority, which is governed by a 24-member Board of Directors appointed by the Governor and the Virginia General Assembly. To accomplish its objectives of promoting economic expansion within the Commonwealth, the Partnership focuses its efforts on business recruitment, expansion and international trade. VEDP has offices in Virginia, China, Germany, Japan, India and the United Kingdom.

To learn more about the VALET program, visit


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