DMT Wins Global Trade Award; Secures Grant to Increase Export Sales
April 28, 2012 (PRLEAP.COM) Business NewsDMT Diamond Machining Technology continues to advance the status of Made in the USA on a global level, working to boost American exports while supporting American manufacturing. With yet another honor and a new grant, the company is being recognized for its impressive international commerce, stellar worldwide reputation and export sales growth potential.
DMT is one of just three Massachusetts employers to receive an Associated Industries of Massachusetts International Business Council (AIM-IBC) 2012 Global Trade Award. According to AIM-IBC, "Now in their 17th year, these awards recognize excellence among Massachusetts businesses engaged in international trade." What's more, the Massachusetts Office of International Trade and Investment (MOITI) and Massachusetts Export Center (MEC) recently awarded DMT one of the first Massachusetts Small Business Export Promotion Grant Program (STEP) endowments to help offset company costs for international business development and related marketing.
"DMT is proud to receive this recognition and grant funding. We have always believed that a strong export program is critical not only to our company's competitiveness but to that of Massachusetts and the United States," said Mark Brandon, president of DMT.
For more than 35 years, DMT Diamond Machining Technology has designed, manufactured and distributed a full line of diamond sharpening products from its Marlborough factory. DMT products are sold in all 50 states and 30 countries, and are renowned for their high quality, performance and durability. Strong international sales have buoyed the company during the recession-export sales have increased 65 percent over the past two years-and have helped to retain its local workforce. In 2011 alone, international sales represented more than 25 percent of DMT's total sales.
To foster its growing global business, including the entry into new markets like Russia and Eastern Europe, DMT created foreign language-specific packaging and renewed its commitment to attending essential international trade shows (the International Hardware Fair and the IWA & Outdoor Classics Show). In addition, DMT representatives conduct international visits throughout the year in order to maintain relationships and develop new business. What's more, DMT has pursued and achieved multiple foreign patents, which have been critical in driving overseas expansion and securing new international market positions. But, it is the company's vibrant, global distribution network that has truly spurred growth.
Having developed trusting and lasting relationships with the right distributors, DMT consistently gets its products into the international pipeline. While hardware, outdoor sports, woodworking, gardening and culinary market segments the world over have long relied on DMT, speedskating has emerged as a new area of international dominance. Last year, China purchased DMT sharpening stones to outfit its speedskating team, and the Dutch team has been using DMT sharpeners for several years now.
"Our Selection Committee was most impressed with DMT's export growth and entry into new markets using a variety of strategies, including trade shows, applying for foreign patents and building its distribution network," said AIM-IBC Executive Director Kristen Rupert.
To meet the criteria for the STEP grant, DMT had to prove its commitment to increasing export sales and demonstrate the likelihood that efforts under its international business marketing plan will result in increased sales and job creation. Due to its robust global trade record and comprehensive plan for expanding its existing export business, DMT received a $10,000 award.
"We are excited to put the STEP grant to use exploring new international markets and broadening our export business so we can continue to spread the good word about 'Made in the USA' and bring more American-made products to consumers worldwide," Brandon said.
Media Contact: Matt Ellis; Ellis Strategies, Inc.; email@example.com; 617-278-6560
About DMT Diamond Machining Technology:
DMT was founded in 1976 and manufactures a full line of diamond sharpening tools for use in woodworking, camping, fishing, hunting, outdoor and winter sports, culinary arts, gardening, police/security and industrial applications. The company has earned a HANDY Innovation Award, the National Home Gardening Club's Seal of Approval, the Handyman Club of America's Seal of Approval, seven Blade Magazine Knife Accessory of the Year Awards and an international award for innovation at Germany's International Hardware Fair. All DMT sharpeners are proudly Made in the USA. Visit www.dmtsharp.com for more information and purchasing, or call Customer Service at 800-666-4368. Click here to access DMT's Full-Line Product Catalog.
About Associated Industries of Massachusetts (AIM) & AIM International Business Council (AIM-IBC):
Established in 1915, AIM is the largest nonprofit, nonpartisan association of Massachusetts employers. With 6,000 member companies employing more than 500,000 people in Massachusetts, AIM's mission is to promote the well-being and prosperity of the Commonwealth by improving the State's economic climate, proactively advocating fair and equitable public policy and providing relevant, reliable information and excellent services. For more information, visit www.aimnet.org. AIM-IBC helps Massachusetts employers engage in international trade and expand their global business activities. Through seminars, referrals and e-newsletters, AIM-IBC provides companies with the resources they need.
About the Massachusetts Small Business Export Promotion Grant Program (STEP):
The Massachusetts Office of International Trade and Investment (MOITI), in collaboration with the Massachusetts Small Business Development Center (MSBDC) and the Massachusetts Export Center (MEC), recently launched STEP through a grant from the United States Small Business Administration (SBA). The program offers financial assistance to eligible Massachusetts small businesses seeking new and increased export sales of their goods and services. Learn more at www.mass.gov/hed/economic/eohed/moiti/step/