Yale Cordage, a Saco-based manufacturer of high-performance synthetic ropes, was among the winners of the 2017 International Trade and Investment Awards.
The awards were announced today by the Maine International Trade Center and will be presented during its annual Maine International Trade Day on May 25 at the Cross Insurance Center in Bangor.
MITC said the winners all made a commitment to growing their business in Europe. Maine saw a 20% increase in exports to the EU in 2016. Now, Brexit is changing the landscape in the EU, providing both challenges and new opportunities for Maine companies, MITC said.
Yale Cordage won in the “Exporter of the Year” category. It exports its ropes, which are used from deep undersea to outer space, to 30 countries, with a significant portion to EU countries, according to MITC.
“The change in the Euro value to the U.S. dollar is an area to watch, and the effects of Brexit are of particular interest. Our historical export business to the UK has been very strong, and we are very concerned about currency changes between the USD, Euro and GB pound,” Yale Cordage President William Putnam said in a statement.