Ludlum Measurements, Inc. (LMI) has been designing, manufacturing and supplying radiation detection and measurement equipment since 1962. Exports have taken LMI from a small company in Sweetwater, TX, to a global multinational with 450 people in Sweetwater, 10 in Knoxville, TN, and 100 more at a facility in the United Kingdom.
Mick Truitt, Vice President, says: “For LMI, doing business beyond the domestic U.S. market is a critical part of our existing business model as well as a key part of our growth strategy. We sell our products in 84 countries, with these international sales contributing 25 percent of our annual revenues.” Not included in the international revenue figure are LMI’s sales to Canada and Mexico, which the firm considers integral to its North American operations.
Truitt says the new trade agreements with South Korea and Colombia presented big opportunities for LMI to create jobs and revenue. Since the implementation of the U.S.-Korea Free Trade Agreement, the company has significantly expanded its market presence, especially in Korea’s medical equipment, security, steel and nuclear industries.
Truitt supports a pro-jobs trade agenda that includes new market-opening agreements such as the Trans-Pacific Partnership (TPP) and the Transatlantic Trade and Investment Partnership (TTIP) now under negotiation. But first, Congress must approve legislation to empower U.S. trade negotiators. “While I am not a trade specialist, I know enough to recognize that first the president needs the authority to negotiate such agreements—Trade Promotion Authority (TPA),” says Truitt.
Support TPA renewal at www.uschamber.com/tpa.