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Textron, part of Grupo Plimon, consolidates in Italy with Cofides financial support

Corporate Finance

Compañía Española de Financiación del Desarrollo, COFIDES SA signed a financing agreement with TEXTRON TECNICA, part of GRUPO PLIMON, to be used for asset investment for the manufacture and commercialisation of natural thickeners.

COFIDES will provide €490,000 through a joint venture loan structured through the Fund for SME Foreign Investment Operations (FONPYME) to purchase the assets needed for the development, manufacture and commercialisation of natural thickeners used in textile printing. The total investment of the company to this project amounts €700.000.

COFIDES and TEXTRON TECNICA recently collaborated together to kick off this project, and that relationship will now be reinforced with this new operation. Textron Tecnica’s main activity is the production and distribution of raw materials, used predominantly in the Cosmetic, Food and Pharmaceutical sectors, among others. With the subsidiary in Italy, GRUPO PLIMON will strengthen their international position, in line with its strategy for sustainable and diversified growth.

GRUPO PLIMON, with subsidiaries in the United States, Japan, India and Italy, as well as a sales network in more than 70 countries on five continents, has contributed to the development and growth in an international context.

TEXTRON TECNICA has two production plants in Lérida province specialising in the production of oils and biocides for the cosmetic sector, amongst others.

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 of Commerce, within the Ministry of Economy 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.

Fuente: COFIDES

http://cofides.es/noticias_detalle.php?id=666
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