Compañía Española de Financiación del Desarrollo,COFIDES SA will support the Alsina Group’s growth in some of its subsidiaries in Latin America.
In particular, it will grant a joint venture loan totaling €2.5m taken from COFIDES own resources and the Fund for Foreign Investments FIEX. The contribution of COFIDES will be used to finance investments in two of the various subsidiaries Alsina has in the South American market.
These projects make strategic sense. Alsina is a business group dedicated to the concrete form-work sector and now Latin America is one of the regions with the highest economic growth forecast and medium-term prospects for this sector.
COFIDES Chairman and CEO Salvador Marín highlighted the Alsina international projection, “which has undoubtedly contributed to its commitment to quality and innovation”.
Alsina Group board members, Jaume and Josep Alsina are very satisfied with this first operation and expect COFIDES to be an ongoing and active financial partner in their ambitious strategic plan of internationalisation that the company has in other countries, in which their systems are highly valued and demanded by the local market.
The Alsina Group is one of the leading companies in the business of concrete form-work sector in Spain. Founded in 1950 in Barcelona, it has a large family tradition. With a broad international diversification, its main line of business is the rental of form-work systems whose components are manufactured by national or international suppliers and assembled on the premises of the company. It employs over 600 people in its 25 workplaces, distributed across 12 countries.
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