COFIDES will support the SME José María Gallizo SL in its expansion in Poland. To this end, COFIDES will provide a joint venture loan of €600,000 structured through the FONPYME Fund, with which the company will invest in machinery for its new manufacturing plant, which will produce counterweights for use in lifts and other appliances.
This plant will be located in Cigace, near the border of Germany and the Baltic Sea and with it the company expects to create between 10 and 20 jobs. Along with the contribution of the promoter, the total investment of the operation amounts to €810,000.
Gallizo is characterised by its strategy based on continuous investment in R & D and it works closely with its multinational customers and on the diversification of its products, customers, countries and sectors.
It is an Aragonese SME founded in 1949 whose core business is the design, manufacture and commercialisation of prefabricated concrete and building materials for the construction and industrial sectors.
The company started in the construction sector and in recent years it has diversified to other areas, manufacturing counterweights for lifts, appliances and railways.
After the signing of the financial agreement, COFIDES Chairman and CEO Salvador Marín stated, “Our objective is to support Spanish companies such as Gallizo, which offers quality services throughout the world and who have vast experience”. This international trajectory, according to the Chairman “has contributed to the development and reinforcement of both the company and its home market in Spain”.
Gallizo CEO, Mariano Gallizo pointed out that through this project, and with COFIDES support, Gallizo is firmly committed to internationalisation as it has allowed them to expand and hence for them to continue offering the best service to its customers. They become a benchmark within the sector in Europe, as in Spain.
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).