Yesterday, 30 May 2013, COFIDES announced the signing of an agreement with MARSAN and IZMAR whereby COFIDES offers its financial support for the start-up of a factory for electrostatic painting and logistics solutions for the automotive sector in Celaya (Mexico).
A total investment of €1.1 million
COFIDES will finance this project through a co-investment loan of 500,000 euros from COFIDES' own funds. Together with the contribution made by the promoters, Marsan Surface TransformationsS.L., S.L.U., and Izmar S.L.U., the project amounts to 1,100,000 euros.
Following the agreement, COFIDES chairman Salvador Marín pointed out that this is the company's first operation with these SMEs. "We hope that their international expansion continues and that we can once again offer our support," he said. At the same time, he pointed out that "Spanish companies have a high level of innovation that allows them to offer very competitive services".
The president of Marsan Transformaciones Superficiales, S.L., José Luciano Martínez-Covelo, explained that "this is the first project in the Mexican Bajío, in the city of Celaya, but given the rate at which the automotive sector is growing in Mexico, we are contemplating a second investment in the medium term to complement the current one".
«Es una buena noticia ver como COFIDES financia el crecimiento internacional de las pymes españolas. El año pasado participó en operaciones de empresas españolas multinacionales como fueron la concesionaria de Abengoa en Perú con 25MM€ por el 33% y en Autopista Urbana Norte (OHL Mexico) con 25MM€ por el 12%» analiza Diego Gutierrez (ABRA INVEST) experts in SME corporate finance.
COFIDES positioned in mature sectors
«El año 2012 las operaciones de financiación en las que participó COFIDES estuvieron relacionadas con sectores maduros como las mencionadas en energía e infraestructura, pero también en industria (Shwartz Hautmont Metal Sanayi Dis Ticaret) y construcción (Regio Mármol – 9MM€ 9%). Se echa en falta alguna empresa de sectores más dinámicos como el tecnológico que posiblemente son las candidatas a formar las multinacionales españolas del futuro», señala Diego Gutierrez.
COFIDES is a public-private company that has been providing financial support to Spanish companies' investments abroad for 25 years. It manages the FIEX and FONPYME funds on behalf of the Secretary of State for Trade, attached to the Ministry of Economy and Competitiveness. Its shareholders also include Banco Bilbao Vizcaya Argentaria (BBVA), Banco Santander and Banco Sabadell.