Madrid, January 24, 2023. Teknia, the Spanish metal and plastic components for mobility multinational group, continues its growth strategy in Germany with support from COFIDES, which will provide the company with a joint venture loan of 3.8 million euros under the FIEX fund.
Teknia will earmark this funding for the acquisition of a German plant to manufacture mechanical components, which took place last July. More specifically, this factory located in the state of Baden-Württemberg specialises in a component for car suspension that is key to the new mobility scenario.
This way, and thanks to this project, Teknia is continuing to establish itself in Germany, a strategic location due to its proximity to customers where until now it had commercial offices. The Group is therefore expanding its presence in one of the main vehicle manufacturing centres in the world and the main one in Europe.
In this sense, Teknia is committed to internationalisation in order to have a presence in the automotive sector's main markets across the world. COFIDES has worked closely with the company on several key projects to promote these expansion plans, including in Morocco, Serbia, Poland and now Germany.
This Spanish multinational group is thus reinforcing its global presence and its high specialisation in the manufacture of components for mobility through a wide offer in the main vehicle technologies. Teknia's customers are the world's leading manufacturers in the automotive industry. The Group has more than 3,300 employees, is present in 12 countries and has 22 production plants.
COFIDES chairman and CEO, José Luis Curbelo, stressed the importance of supporting companies in the automotive sector, "a sector that is strategic for our economy and is characterised by innovation, competitiveness and efficiency". For Curbelo, "supporting Teknia yet again in its international growth is very satisfying"., as we are helping it to maintain a global presence, diversify markets and risks, and continue to generate employment”.
On his part, Teknia's Executive Director, Javier Quesada de Luis, highlighted "the important milestone that it means for a company like Teknia to continue investing in Germany. With this we improve the service to our customers with a plant offering high technological value in a key pole of vehicle manufacturing in the world. This step will undoubtedly allow us to continue improving our strategic relationship with them".
CONTRIBUTING TO THE SDGs
This project integrates the Sustainable Development Goals (SDGs), and more specifically, it contributes to the achievement of SDG 8, Decent work and economic growth, it affects SDG 9, Industry, innovation and infrastructure and SDG 12, Responsible production and consumption, as the Group is firmly committed to sustainability and integrates ESG criteria in each of its strategic decisions, as well as having a global quality and environmental system in accordance with various international reference standards.
Teknia is a Spanish multinational Group that specialises in the manufacture of components for mobility through a wide range of specialised technologies. Teknia's customers are the world's leading manufacturers in the automotive industry. The Group is present in 12 countries and has more than 20 factories with more than 3,300 employees.
COFIDES is a a state-owned company engaging in the management of State and third-party as well as its own funds, pursues a number of aims: internationalisation of Spain’s economy, furtherance of economic development and fortification of the solvency of companies affected by COVID-19. In addition to the Spanish State, its shareholders include Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell and Development Bank of Latin America (CAF).