Madrid, June 21, 2012.
Kin Laboratories will market new products in its subsidiary companies of El Salvador and Brazil with COFIDES financing. To that end, COFIDES Chairman Salvador Marín, and Economic-Financial Manager of Kin Laboratories, Antonio López, have signed a financial statement for an eight-year 500,000 euro loan for an operation soaring 1.08 million euro.
Kin Laboratories is a Catalonia-based company founded in 1964, devoted to investigation, development and marketing of dental consumer and professional products. Since 2006 it is active in Brazil and El Salvador, from where it covers the Central America market, (Costa Rica, Guatemala, Honduras, Nicaragua and Panamá).
This is the first project between COFIDES and Kin Laboratories. After the signature of the contract, Salvador Marin pointed out that this operation is a good example of the internationalisation support we offer to the small- and medium-sized companies, in line with the new 2012-2015 strategy set forth for this activity range. In addition, he added we are completely sure that Kin Laboratories will successfully develop this new activity, which no doubt will provide the required dynamic growth to the core company in Spain.
On his own behalf, Antonio López was grateful to COFIDES support which, in his words, will act as a new lever for the development and consolidation of the Internationalisation strategy of Kin Laboratories. He also added his recognition to this institution for fostering the external boost, a key factor for their future growth.
COFIDES is a government mercantile society which has been offering financial support to Spanish enterprises abroad since 1988. It administers a resource volume of nearly 1,400 million euro and accounts for a solid experience as a Development Financial Institution specialized in the promotion of internationalization of Spanish firms.
