Loram Maintenance of Way, Inc. says it has been honored with the 2009 Minnesota Governor's International Trade Award. Hamel, Minn.-based Loram was one of seven companies recognized for developing and continuing to grow a significant part of their business in foreign markets, for increasing or maintaining jobs in Minnesota that support international sales, and for developing novel approaches for competing globally.
A luncheon honoring the award winners was held last Friday at the IDS Center in Minneapolis. Loram representatives in attendance included: President and CEO Phil Homan; Director of Business Development Tom Smith; Chief Engineer in OEM Services Ken Range; Manager of International Operations Andrew Hense; Manager of Production Rail Grinding Luke Olson; International Contract Manager Jeanne Fondell; International Services Coordinator Kaizen Yang; Chief Engineer in OEM Services Roger Luedke, and also Andrew Tompkins, Geoff Michel, and Richard Kopka.
"Minnesota companies sold a record $17.3 billion in manufactured exports last year," said Tony Lorusso, executive director of the Minnesota Trade Office. Loram's international sales grew from 24% of revenue in 2006 to 31% of revenue in 2008. Loram has customers in more than 30 countries.