FOR IMMEDIATE RELEASE
February 27, 2007



Christie Miller
VEDP
(804) 545-5805
Salem Company Selected to Participate in Virginia’s VALET Program
-Two-year program provides resources to support international business-


RICHMOND - The Virginia Economic Development Partnership (VEDP) today announced the acceptance of a Salem company, TMEIC GE (TM GE Automations Systems LLC), 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.

TMEIC GE joins the program as part of the 11th class of VALET companies. To participate, each eligible business must meet several quantitative criteria and complete an application process. Participating firms are chosen based on their dedication to growth through export. Currently, 86 Virginia companies have been accepted to participate in the VALET program.

TMEIC GE is a long-standing joint venture between industry giants Toshiba, Mitsubishi Electric and GE formed to leverage each company’s specific areas of expertise in the global supply of packaged drives and drive systems. The three industry leaders each provide high levels of expertise in power electronics, systems integration technology and industry application knowledge. In addition to the technology each company offers, TMEIC GE is tightly integrated with the renowned GE Sales and Service organizations to assure continuity of sales, service and spare parts to its North American customer base.

“TMEIC GE has already begun to experience the benefits of working with the resources of the VALET program and we look forward to being a strong player in the growth of Virginia export trade,” said Steve R. Blomquist, Director—Marketing, TMEIC GE.

The VALET program incorporates services from a team of experienced international service providers who assist the VALET companies with their international goals. Service providers such as attorneys, Web designers, bankers, translators and freight-forwarders contribute essential skills for expansion into international markets.

“VALET welcomes TMEIC GE into the program,” said Leslie Parpart, VALET Program Manager. “We look forward to working with its international team over the course of the next two years to assist the company in exceeding export goals.”

The VALET program was recognized as a national model in November 2004 by the National Council for Public-Private Partnerships (NCPPP) for VALET’s innovation in bringing the public and private sectors together to achieve a benefit for the public. The VALET program was the only winner of the 2004 NCPPP Public-Private Partnership Award in the Innovation category.

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 21-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, Belgium, Hong Kong, Mexico, Brazil, Korea and Japan.

To learn more about the VALET program, contact Leslie Parpart, VALET Program Manager, at LParpart@YesVirginia.org or visit the programs tab at www.ExportVirginia.org.

VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP

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