COFIDES is supporting MAT GROUP™ for the expansion of its plant in China. It will provide a joint venture loan of 300,000 euros from its own resources (25%) and the FONPYME (75%). The company will use this funding to invest in machinery and electronics that will enable it to manufacture helmets independently. The total investment of this project is 800,000 euros.
MAT GROUP™ and COFIDES collaborated in 2020, when the company obtained funding to implement the first phase of this project involving the expansion of its R&D centre, the construction of a certification laboratory and the creation of several sites to enable it to expand its production in China. The project company was set up in Xiamen in 2014 and began operations in 2015 as an R&D unit focusing on technical tasks and quality control of its local producers. The expansion of the company's facilities financed by COFIDES will enable the centre to develop complete products with vertical integration.
The company regularly invests in R&D and is a market leader in materials for helmets, technical protective clothing and hands-free communication. Its sales are focused on the international market, mainly Canada, USA, China, Europe and Japan.
The COFIDES chairman and CEO, José Luis Curbelo, said that SMEs that invest in their own R&D and technology tend to be competitive and have the capacity for growth in international markets. "That is why it is very important to support them, so that they can grow and contribute their knowledge with the aim of creating products and technological solutions which are sought after by consumers."
The MAT GROUP™ CEO, Xavier Mateu, said, "We are proud to be able to offer our customers the integration of our unique technologies into their products on a global scale. These types of investments support our strategy to continue to expand our global reach in order to better serve the growing needs of our customers."
CONTRIBUTION TO THE SDGS
The MAT GROUP™ project contributes to the achievement of Sustainable Development Goal 8 (Decent work and economic growth), as it stimulates the creation of direct employment in both Spain and China.
ABOUT MAT GROUP™
MAT GROUP™ is an SME based in Terrassa (Barcelona) which specialises in the development and marketing of products and technological solutions for protection, safety and comfort (helmets, technical protective clothing and hands-free communication systems). It is active in the motor, sports, industrial and defence sectors and manages the entire product development process, including design, engineering, testing, manufacturing and quality control.
ABOUT COFIDES
COFIDES, a state-owned company engaging in the management of State and third-party as well as its own funds, pursues a number of aims: internationalisation of Spain’s economy, furtherance of economic development and fortification of the solvency of companies affected by COVID-19. In addition to the Spanish State, its shareholders include Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell and Development Bank of Latin America (CAF).
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