Madrid, June 28, 2012.
COFIDES will finance and Systems and Manufacturing Spain-México (SAMM)through a joint venture loan amounting to 4,443,227 euro with seven years term to expand the productive capacity of an automobile components factory whose total investment amounts to 6,347 467 euros.
The operation is carried out through COFIDES own funds (25%) and the Fund for Overseas Investment for Small and Medium Enterprises (FONPYME), a State fund managed by COFIDES under the Ministry of Economy and Competitiveness through the Ministry of Commerce.
COFIDES chairman, Salvador Marin, CEO and Manufacturing Systems Spain, Agustín Gonzalez, and Secretary of the Board of this company, Jose Jimenez de los Galanes, today signed an agreement for the financing are used to SAMM Mexico, project company. Also, as financial advisors to MSSA members attended ONEtoONE Capital Partners, Maria Jose Martinez Gil and Javier Carmona.
SAMS is a small company founded in Toledo in 1992 and currently based in Manzanares (Ciudad Real), dedicated to the manufacture of components (batch means) for vehicles with four and two wheels, and the design and production of series of transmission, engine and suspension for cars, trucks and agricultural machinery. Since its inception it has experienced continuous growth has allowed to expand internationally and increase their exports.
After the signing, COFIDES Chairman, Salvador Marin, has highlighted the willingness of the institution to "support and support the efforts made by the SMEs for globalization." In fact, he said that "it is one of the main challenges of the new Strategic Plan 2012-2015, that we are carrying out with agreements like the one signed with SAMS today." COFIDES is a state corporation since 1988, provides financial support to investments by Spanish companies abroad. Manage resource volume of approximately 1,400 million euros and has a solid experience as Development Financial Institution specialized in promoting the internationalization of Spanish companies. Also participate in its shareholder Banco Bilbao Vizcaya Argentaria (BBVA), Banco Santander and Banco Sabadell.
