Norfolk 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 Norfolk company, Bauer Compressors, Inc., 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.
Bauer Compressors, Inc. joins the program as part of the 13th 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, more than 90 Virginia companies have been accepted to participate in the VALET program.
Bauer, beginning in 1946, has earned its reputation as the world’s foremost manufacturer of high pressure air and gas compressors and purification systems. Over time, Bauer has expanded its global reach with offices in Italy, Japan, Hong Kong, Singapore, Austria, England, France, China and the United States. Located in Norfolk, Bauer Compressors, Inc. began manufacturing for the United States market in 1976 and has experienced continual growth since, with current facilities encompassing 115,000 square feet. The company has branch offices in Miami, Los Angeles, San Francisco and Detroit. Future growth plans are closely tied to expanding international reach with heightened focus on the South American market place.
“Bauer Compressors, Inc is excited to be a part of the VALET Class of 2008,” said Jan von Dobeneck, President, Bauer Compressors, Inc. “We have always been an industry leader in our core marketplace and are convinced one of the keys to our continued success and growth is to further expand our marketing efforts internationally with a high focus placed on Argentina, Brazil and Chile. The financial resources available to us through VALET will certainly offset some of the pending expenditures, but more importantly, we hope to gain market knowledge by networking with our current classmates and as well prior participants. Utilizing the resources offered through the VALET program will give us a jump start in the market areas previously mentioned that will hopefully allow us to further increase production capacity and staffing sooner rather than later.”
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 Bauer Compressors 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.