Portland valve manufacturer expands into Latin America
Allagash International Inc., a maker of industrial valves and controls, has signed a $2.5 million contract with a Latin American industrial group.
Allgash's agreement with Colombia-based Grupo ETHUSS makes the Portland-based company the exclusive distributor of valves and controls to the syndicate's more than 80 members in Central and South America, according to a press release from Allagash.
Grupo ETHUSS' members include companies in the engineering, power generation/transmission, oil exploration and refining, construction, manufacturing and infrastructure industries of 13 countries. Its sales in 2010 exceeded $450 million, according to Allagash.
Terry Ingram, Allagash president and CEO, says the agreement reflects the opportunities that Maine companies have in international markets, particularly in developing countries. "It takes time and effort to understand a very different business culture -- not to mention persistence -- but the markets are there," he says in the release.
Last year Allagash generated a $1.3 million increase in company sales and purchased a Minnesota valve and control line, renaming it Nor'east Valve and Controls.
Ingram formed the company in 2002 as Allagash Valve and Controls, a wholesale distributor for other manufacturers, before adding servicing and repair.
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