COFIDES will support the expansion of the plant which Fersa Bearings, a company from Zaragoza, has in China. Thus, it will contribute 2 million euros taken from COFIDES own resources to the project company: A&S Fersa Bearings Europe. The total investment of the project amounts to 2.5 million euros.

Fersa Bearings specialises in the design, development and distribution of complete bearing solutions for the automotive sector globally. Thanks to this financing, the company will develop two new production lines in China. Thus, it will start a new bionic bearing assembly line and a new manufacturing line.

COFIDES has supported Fersa Bearings since 2010, when it financed the company´s first production plant in China using the FONPYME fund. This plant, located in the Jiaxing prefecture, manufactures conical and cylindrical bearings, as well as spare parts. Subsequently, COFIDES supported the expansion of the project, and now it collaborates again with the company in order for it to continue developing its business model.

Fersa Bearings has more than 50 years of experience and a strong international presence in more than 95 countries. The company has a worldwide distribution network, as well as its own production centres, research and development centres and technical-commercial offices in strategic markets.

COFIDES is a public-private company which has been offering financial support to Spanish companies investing abroad since 1988. It is the exclusive manager of FIEX and FONPYME funds on behalf of the Secretariat of State for Trade attached to the Ministry of Industry, Trade and Tourism. Shareholders include Banco Bilbao Vizcaya Argentaria (BBVA), Banco Santander, Banco Popular, Banco Sabadell and CAF-Development Bank of Latin America.

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