Many Small-Medium sized Enterprises (SMEs) thrive because their partnership with large global companies in America allows them to reach new customers in international markets, boost their revenue, and generate new ideas and best practices that enhance their competitiveness. A concrete example of the two-way benefits of such partnerships is ExxonMobil’s commitment to finding technical solutions to its global business challenges through mutually beneficial partnerships with key suppliers like Lokring Technology, which employs just under 100 workers at its Cleveland, OH headquarters.
ExxonMobil identified a new alternative to hot work welding in 2007 when they came across a pipe fitting technology created by Lokring during their MEV (Maintenance Efficiency Venture) initiative. At the time Lokring was already a supplier to ExxonMobil. This relationship deepened with the MEV decision to support the use of Lokring’s pipe-fitting technology. Lokring fittings require no heat, is quick to install, and can be used by properly trained technicians without any welding experience.
Read more about Lokring Technology’s partnership with Exxon Mobil in a report written by Professor Matthew J. Slaughter of Dartmouth University titled “American Companies and Global Supply Networks”.