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COFIDES promotes the Tecnocom internationalisation process

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Compañía Española de Financiación del Desarrollo, COFIDES SA will contribute to the international expansion of Tecnocom in Latin America.

To do this COFIDES will provide a joint venture loan of €7m through the Fund for Foreign Investment (FIEX) - €4.67m and from COFIDES own resources - €2.33m. This agreement will allow Tecnocom to strengthen its financial structure and help to boost the international development of the company, giving the Society Corporate funding to partially finance the investment made in its subsidiaries in Mexico, Colombia, Chile and Paraguay.

This is the second operation in which the companies have collaborated, as COFIDES supported Tecnocom in 2012 to improve the provision of services in the Dominican Republic.

COFIDES Chairman and CEO, Salvador Marín stressed “the great aptitude of Spanish companies for product innovation and services, allowing them to be very competitive in foreign markets”.

Tecnocom Board Director Javier Martín Director stressed “The attractiveness of the Latin American region in the growth plans of the Company. Tecnocom has been developing, in recent years a major effort to grow organically in the region where it currently has major clients in all sectors. The plans of the company are developing in all sectors where it operates, providing local services and integrating the companies into the culture and working environment of each country”.

Tecnocom is a Spanish multinational company founded in 1967 and one of the main national companies in the field of Information Technology and Communication (ICT). It currently employs over 6,000 people and is the third largest company in the sector in Spain. It has a presence in Spain, the United States, the Dominican Republic, Colombia, Peru, Paraguay, Chile and Portugal.

COFIDES is a combined private-public concern, which since 1988 has provided financial support to Spanish enterprises abroad. COFIDES manages the FIEX and FONPYME funds on behalf of the State Secretariat of Commerce, within the Ministry of Economy and Competitiveness. The stockholders include the Bank of Bilbao Vizcaya Argentaria (BBVA), Santander Bank, Popular Bank, Sabadell Bank and CAF-Development Bank of Latin America.

Fuente: COFIDES

http://www.cofides.es/noticias_detalle.php?id=556
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