American Tank & Vessel, Inc. announces $109 million Ex-Im Bank guarantee

American Tank & Vessel, Inc. announces $109 million ex-IM Bank guarantee for development of storage facilities in Ghana for the Bulk Oil Storage Transportation Company (BOST).

American Tank & Vessel, Inc. (AT&V) has received board approval from the Export-Import bank of the U.S. ( Ex-Im Bank) for the development of tank storage and pipeline facilities for The Republic of Ghana.

AT&V based in Mobile, AL will coordinate the project through the Houston office of AT&V with fabrication in the Lucedale, MS facility.  The project will create and sustain work for American Tank & Vessel employees and suppliers in multiple markets over the next 3-5 years.

AT&V management and employees have been impressed by the commitment and expertise shown by the Ex-Im Bank in helping secure such a quality project.  “Such a combined effort from government agencies is a major ingredient in the pursuit of foreign work,” said W.J. Cutts, American Tank & Vessel President.

“Major expansions of equipment and facilities have been under way at multiple AT&V fabrication facilities, including the Lucedale, MS”, said James Davidson, Vice President of Construction at AT&V.  Mr. Davidson went on to say that, “the new expansions by AT&V represent additional capacity far beyond the need of the Ghana Project, netting a benefit to our current customers.  The Ghana Project should help in stabilizing work loads over the next few years”.

This project continues the efforts of AT&V to develop the sub-Saharan markets with AT&V technology.  “Capacity at AT&V to supply the project is totally separate from our domestic market capacities,” said W.T. Cutts, Vice President of AT&V.  The entire Ghana project has been constructed around the supply of engineering, materials and fabrication, separate from our traditional domestic resources.  Our effort is to bring additional work to the U.S. market and stabilize future demand.

American Tank & Vessel, Inc. was founded in Mobile, Alabama in 1982.  The company owns and maintains all assets and investments needed to provide a full range of tank and vessel capability, capacity and expertise to execute turnkey contracts for all terminal, pipeline, mill and plant projects for federal and public administrations, private-owner corporations and industrial engineering and construction companies in the U.S. and in several foreign countries.  Its projects are typically large-scale industrial, power, energy, chemical, pulp and paper, nuclear-waste and wastewater projects and often include fast-track engineering and construction demands.  These assets include:  design, fabrication/pre-fabrication, production, shipping and construction of field-erected and shop-built tanks, pressure vessels, spheres, towers, stacks, bins, silos and all other equipment made of formed and welded steel plate.

AT&V corporate and financial offices are located in Mobile, AL.  The company’s main North American fabrication operations are housed in a 33 acre industrial facility located in Lucedale, MS.  AT&V has engineering and construction support facilities in Mobile, AL, Houston, TX, Baton Rouge, LA, Birmingham, AL, and Lucedale, MS.  Abroad, AT&V’s product line continues to grow in Africa, Asia, Europe, Central and South America.