“We were honored fifty years ago to receive the first ever ‘E’ Award from President Kennedy in 1963, and are equally as proud today,” said Tom Reed, president and COO of Rust-Oleum Corporation. “We are committed to growing our business globally and this award is confirmation of our efforts.”
Rust-Oleum Corporation, headquartered in Vernon Hills, Ill. is a global leader in rust-fighting coatings and has been one of America’s most trusted brands for over 90 years. On the cutting edge of innovation, the company’s extensive breadth of products includes industrial coatings, decorative fashion paints, epoxy garage floor coatings, primers and wood finishes.
“I am pleased to recognize Rust-Oleum Corporation for receiving the President’s ‘E’ Award, which honors companies that make significant contributions toward increasing U.S. exports,” said U.S. Commerce Secretary John Bryson. “This Administration is committed to leveling the playing field for American businesses and workers to help U.S. companies build things here and sell them around the world. ‘E’ Awards winners like Rust-Oleum Corporation have excelled in this effort, demonstrating four years of successive export growth. It is companies like this that are helping to grow our economy and put more Americans back to work.”
A business client of the Department’s U.S. Commercial Service, Rust-Oleum has benefited from export counseling, trade shows, market research and business matchmaking to greatly expand its export sales. While Europe represents a significant portion of the company's foreign market sales, the company does business in several other regions of the world as well. Rust-Oleum Corporation demonstrated a substantial increase in the volume of exports over a four-year period, a major criteria for the award.
U.S. companies are nominated for the “E” Awards through the U.S. Commercial Service office network in 108 U.S. cities and more than 75 countries which helps U.S. companies export. The primary criterion for the “E” Award is four years of successive export growth or of supporting the export growth of others. “E” Awards are awarded to applicants that can demonstrate a significant contribution to U.S. export expansion that is measurable, innovative, sustainable and has broad impact.
All nominations are reviewed by the “E” Award Committee, which is chaired by the Department of Commerce, and includes representatives of ExIm Bank, the Small Business Administration and the Departments of Agriculture, Labor, State and Transportation.
This year marks 50th anniversary of the first presentation of the President’s “E” Award by President John F. Kennedy. The President’s “E” Award was created by Executive Order in 1961 to encourage U.S. companies to sell their products abroad. A second award, the President’s “E Star” Award, was authorized by the Secretary of Commerce in 1969 to recognize “E” Award recipients for their continuing significant contributions to U.S. export expansion.
A total of 41 U.S. companies and organizations were presented with the “E” Award at the May 17, 2012 World Trade Week ceremonies in Washington DC.