FOR IMMEDIATE RELEASE
January 14, 2015



Suzanne Clark
VEDP
(804) 545-5806
Russell County 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 a Russell County company, Steel Fab, 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.

Steel Fab joins the program as part of the 27th class of the VALET program. To participate, each eligible business must meet several quantitative criteria and complete an application process. To date, 234 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 Steel Fab to VALET and look forward to working with them over the course of the next two years.”

Steel Fab

Steel Fab, a division of Samuel Pressure Vessel Group (SPVG), is among the largest manufacturers of ASME air receivers in North America. The company is a key supplier to most major compressor OEMs and compressor distributors. In addition to providing a standard product line, Steel Fab also fabricates custom (engineered to order) vessels for energy, oil & gas, chemical, and many other markets.

The Virginia Economic Development Partnership

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 www.ExportVirginia.org.

VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP

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