Export sales have been surging for finishing equipment suppliers in Minnesota, including Almco Inc. whose export sales jumped 113 percent over the last two years. Television station KAAL recently aired a segment on Almco that highlighted the increase.
According to its technical sales administrator, Bill Sherman, overseas demand for the Albert Lea, Minn., based company’s equipment helped it through a depressed U.S. economy. The KAAL report also showed that Almco is not the only Minnesota company with such good fortune. The state’s exports reached more than $20 billion in 2011; in the third quarter alone, manufacturing exports were up by roughly 5 percent.
The largest percentage of Almco’s exports are to Canada, although the company also has done business in China, India, Turkey, Japan, Mexico and Israel, says Larry Beavens, vice president. According to the International Trade Administration, Canada was Minnesota largest market at almost $6 billion in 2011, followed by China, Japan, Mexico and Germany.