SIA Pushing for Congressional Reauthorization of Ex-Im

The Satellite Industry Association is urging Congress to reauthorize the Export-Import Bank. Without it, SIA President Tom Stroup said in a statement Tuesday, "U.S. commercial satellite manufacturers are increasingly uncompetitive in a global marketplace where foreign buyers account for roughly 75 percent of all commercial satellite sales." Numerous satellite companies have complained about loss of Ex-Im in recent weeks (see 1509210026). According to SIA, since the bank's virtual shutdown July 1, U.S. companies have seen at least three commercial satellite orders withdrawn and the U.S. has not been able to take part in some other competitions. "This is just the tip of the iceberg," Stroup said. "In the highly competitive commercial satellite manufacturing market, support from export credit agencies (ECAs) can be the difference between the winning proposal and a competitive one. And in some cases, ECA support is a required component of the proposal. The longer the Ex-Im Bank remains closed, the greater the damage will be to U.S. satellite manufacturers and the hundreds of local businesses that supply them."