Madrid, March 04, 2024. COFIDES has granted a co-investment loan of 4.9 million euros to Teknia, a group dedicated to the manufacture of metal and plastic components for mobility, for the acquisition of the Swedish company Svensk Tryckgjutning. The financing is provided by the Fund for Foreign Investment (FIEX) managed by COFIDES.
With this acquisition, Teknia reinforces its commitment to aluminium injection, a key material for electrification, and adds production capacities in magnesium injection. The operation responds to Teknia's strategy of being a multi-technology partner for its customers, with a high degree of specialisation and geographical diversification. With this new plant, the group now has 23 production facilities and is present in 13 countries.
This is the sixth operation in which Teknia and COFIDES have collaborated, having contributed to the internationalisation of the company in Morocco, Mexico, Poland, Czech Republic, Serbia and Germany.
The corporate director of COFIDES' Investment Department, Miguel Ángel Ladero, stated that "Spanish companies like Teknia, with a great capacity for innovation and specialising in technology, are capable of finding opportunities to grow in industrial sectors with high added value and in the most demanding markets".
On behalf of Teknia, Rafael Morales, Director of Operations at Teknia, stressed that "Sweden is a technological benchmark and a key country in the automotive sector in Europe. With this new plant we are adding to our perimeter a factory that provides a differential value through a technology with great potential".
The project contributes to the achievement of Sustainable Development Goals (SDGs) 5, Gender Equality, and 8, Decent Work and Economic Growth.
ABOUT TEKNIA
Teknia is a multinational Group specialised in the manufacture of mobility through metal and plastic components from a wide range of technologies. Founded in 1992 as a global supplier to the automotive industry, Teknia is today present in 13 countries, with 23 plants and more than 3,500 employees. The company's customers include the world's leading vehicle manufacturers, as well as other Tier-1 suppliers in the industry. Teknia's turnover amounted to 385 million euros in 2022.
ABOUT COFIDES
COFIDES is a state-owned enterprise specialized in the management of State funds that provide medium- and long-term financing for private investments linked to different public policy purposes. COFIDES directly manages funds aimed at supporting the internationalization of Spanish firms, strengthening the solvency of companies severely affected by the COVID-19 pandemic, to attract foreign direct investment into Spain through co-investment deals and to contribute to the growth of the impact investment ecosystem in Spain. In addition, COFIDES supports the management of the financial cooperation portfolio of the Spanish Agency for International Development Cooperation, promoting sustainable development in emerging economies and developing countries. In the ownership structure of the Company, the Spanish State holds 53% of the equity. The remaining 47% is held by Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell and Development Bank of Latin America (CAF).
