Ellicott Dredge Enterprises, LLC
Profile: Founded in 1885, Ellicott Dredge Enterprises, LLC is the world’s largest manufacturer of small- and medium-sized cutter suction dredges. The company, which employs about 200 people at its two plants, designs and produces portable dredges used by the construction industry, marine departments, hydro-electric power plants, coastal protection entities and industrial municipalities, among others.
Exports: Ellicott has built more than 2,000 dredges for clients in more than 100 countries. Since entering the Korean market in 1958, Ellicott Dredges has supplied dredges to companies including Hyundai, Hanjin and Daewoo. Since 2009, Ellicott has made multiple dredging equipment sales for environmental and infrastructure projects in Korea. For example, Ellicott engineered and sold dredges to be used on the Four Major Rivers Restoration Project, to clean water drains in Seoul and to remove contaminated sludge and trash from urban drainage canals. Ellicott has also sent field service technicians and engineers to Korea to assist clients with initial dredge start-up and provide training.
Growth: The U.S.-Korea Free Trade Agreement (KORUS FTA) will lower and eliminate tariffs for U.S. products and services in the Korean market, providing an advantage for companies like Ellicott. To capitalize on this opportunity and grow its business, Ellicott is actively pursuing new dredge sales through its representatives in Korea.
Entering the Korean Market: In 1953, the Korean Government hired Ellicott to do a study on how to improve Korea’s ports and rivers. A few years later, in 1958, Ellicott sold its first dredge in Korea. In 1969, Ellicott received its first significant order from Daewoo Corporation. In the 1980s, Ellicott sold large dredges to Daewoo and Hyundai for land reclamation projects.
Two-Way Trade: Ellicott recently made a multi-million dollar investment in new machining centers at its Baltimore factory. The new equipment, which was principally from Doosan of Korea, illustrates the benefits of two-way trade.
“The KORUS FTA will give companies like ours a competitive advantage in Korea over foreign competitors. We hope this direct benefit will encourage Korean buyers to purchase more goods from Ellicott and the United States.”
-- Peter Bowe, President, Ellicott Dredges
Select your state below for information on local resources that can help you take advantage of opportunities from the U.S.-Korea Free Trade Agreement. These resources include groups in both the public and private sector.
Semiconductors and components, Aerospace products, Chemicals
Communications equipment, Motor vehicles, Motor vehicle parts
In 2015, Korea was the United States’ 6th largest trading partner, while the United States was Korea’s 2nd largest.