The Basque company, NBI Bearings Europe, which specialises in the manufacturing and sale of bearings, will consolidate its position in Romania with the support of COFIDES.

COFIDES will contribute 1.5 million euros taken from the FONPYME Fund (75%) and its own resources (25%) through a co-investment instrument. This financing will allow the company to acquire a Romanian company which specialises in the printing and galvanization for the industry and the automotive sector.

The initial investment amounts to 2 million euros. It is estimated that, in the next fiscal years, this investment will duplicate in assets which develop the activity of the new plant. With this operation, NBI Bearings Europe intends to reach a higher level of competitiveness and access to a greater number of clients in the printing market.

COFIDES´s Chairman, Salvador Marín, stated after signing the financing agreement that "internationalised companies grow and increase their size, strengthening and consolidating its parent company".

NBI Bearings Europe is a company created in 2002. Its main production centre is in Oquendo (Álava). It is the marketer and parent company of a group of companies specialised in the research, development, design, manufacture and sale of bearings, printing and metal parts for industrial machinery. The company has 135 employees and has presence in Spain and Romania. The company invests heavily in R&D with the purpose of achieving high-quality designs. Its shares have been listed on the Mercado Alternativo Bursátil (MAB) since 2015.

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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