COFIDES will support the international growth of the COPRECI cooperative in Mexico through the granting of a €1.15 million loan from the Foreign Investment Fund (FIEX). The financing will allow the company to improve and modernize its facilities in the state of Guadalajara, in a project with a total investment of €1.65 million.
Mexico is a strategic market for COPRECI’s global positioning, where it has been present since 1989. The country is the fifth-largest producer of household appliances, with a highly internationalized industry. The production of the Mexican subsidiary is primarily destined for the Mexican market and the United States.
With a broad international presence, COPRECI serves its clients worldwide, adapting to the needs of each market. Its commitment to industrialization as a business model has established it as one of the leading players in the global household appliance components industry.
COFIDES and COPRECI previously collaborated in 2004 to expand the company’s production capacity in Mexico.
COFIDES Corporate Investment Director, Miguel Ángel Ladero, stated that “it is very satisfying to support COPRECI once again and continue boosting its competitiveness. The modernization of the Guadalajara plant will optimize processes, increase efficiency, and consolidate its leadership in the global household appliance components industry.”
ABOUT COPRECI
Copreci Sociedad Cooperativa is the parent company of an industrial group dedicated to the development and manufacture of components for household appliances and other sectors. It is a leading manufacturer of kitchen valves. Headquartered in Aretxabaleta, Guipuzcoa, it has ten production plants, seven of them abroad. It is part of the Mondragón Corporation and employs 1,500 people.
ABOUT COFIDES
COFIDES is a state-owned commercial company that manages government financial funds, as well as its own resources and those of third-party institutions with various objectives: the internationalization of the Spanish economy, attracting foreign investment to strategic sectors in Spain, promoting impact economy initiatives in Spain, and contributing to the development of the countries in which it invests. Its shareholders, in addition to the State, which holds a majority position, include Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell, and CAF-Latin American Development Bank.
cloud technology axon
With a target size of €250 million, the fund aims to complete betwee...
