The company Boix Maquinaria, up to now owner of 50% of the company Boix Europe, has acquired the whole of its subsidiary in the Netherlands from its current partner, Gremio Vitalis.

COFIDES, as manager of the FONPYME Fund, facilitated a co-investment instrument of 2.8 million euros in order to contribute to the international business expansion of the company from Alicante. The total investment of the project amounts to 4 million euros.

Boix Maquinaria S.L. is a family business from Alicante with more than 40 years of experience in the design and manufacture of carton erectors and carton closers for different sectors such as the food, industrial and agricultural sectors.

Boix has the total control of the production and manufacturing process and offers many services regarding technical support, spare parts, maintenance, training and rental machines, among others.

Nowadays the company has four subsidiaries abroad (in China, Mexico, the United States and Chile), it sells machinery to more than 80 countries and 89% of the group sales are exported.

Thus, the operation carried out with COFIDES perfectly integrates into the international expansion strategy of the company, and it also aligns with and strengthens the approach of Boix Maquinaria: "To consolidate ourselves as a multinational, responsible, efficient and competitive company that is ready to compete globally".

This acquisition means the consolidation of Boix Maquinaria in the European market, particularly in the Netherlands, where the main purpose of its subsidiary is to develop and to consolidate its presence in the Eastern European and Russian markets.

After the signing of the agreement between COFIDES and Boix, COFIDES´s Chairman stressed that "it is very important to support SMEs in their international growth, a process which also consolidates their position in Spain, thus contributing to job creation. To do this, they should know that they can count on the support from the FONPYME Fund for their foreign investment projects".

The Boix Maquinaria management considers that the management and development of this operation is a very important milestone for our company and that it was possible thanks to the support from a partner like COFIDES which provided us with professionalism, analysis, coherence, and, especially, proximity and teamwork skills, which makes it possible for this kind of projects to move forward, even exceeding the initial expectations.

This is why in Boix Maquinaria we are very grateful for the work and efforts made by COFIDES and its whole team, and we would like to count on them in our future expansion projects.

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 for Trade, within The Ministry of Economy, Industry 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).

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