The Catalan Institute of Finance (ICF) and BBVA have financed, in equal parts, the pharmaceutical industry group Printfa with 5.6 million euros for the purchase of a 19,000 m² warehouse, with 4,000 m² of offices, in Montcada i Reixac (Vallès Occidental). The facilities are the same as those previously operated by the Swiss multinational TE Conectivity, a Nissan inter-supplier that left this location in 2022 following the car manufacturer's relocation.
Thanks to the new location, the company, which currently has 70 workers in Catalonia, expects to create between 15 and 20 new jobs in 2025 and go from the estimated turnover of 25 million euros by 2025 to 37 million in 2027. In addition, the new warehouse, to which the Printfa Group will move in the first quarter of 2025, will allow the company to triple its surface area compared to its current facilities and acquire five more machines, increasing its production by 50%.
"This change will allow us to concentrate all our activity in the same space, increase our production capacity, improve our operational efficiency and continue to expand our business on a European and global scale," explained Lluís Basagaña, financial and human resources director of the Printfa Group.
In addition, this step is also expected to contribute to the diversification of the group's products and services, as well as the modernization of its equipment. "Our goal is to generate a positive impact on the company, the community and the economy in general, and that all this allows the Printfa Group to continue to be a world leader in its sector, developing new products and ideas with laboratories that keep us at the technological forefront of the pharmaceutical industry," added Basagaña.
The financing of the public promotion bank is, therefore, a new boost to the process of reactivating industry in Catalonia, one of the strategic and priority lines of the entity of the Generalitat de Catalunya.
"As a public bank, we work so that our financing and our conditions contribute to the recovery of the weight of industry in the country's productive system. With this operation, we are once again taking a step forward in the objective of reindustrialising Catalonia to generate more jobs, more innovation and more growth", said the CEO of the ICF, Vanessa Servera.
In 2023, the ICF allocated one out of every four euros granted in loans and guarantees to promote projects and investments in the manufacturing industry, with a total of 150.4 million euros, according to the financial institution's 2023 Annual Report.
For his part, BBVA's regional director, José Ballester, stressed that "for BBVA, it is a priority to channel the necessary financing to companies to promote their growth and develop new projects." "Active support for companies, SMEs and individuals is a strategic axis for our entity," he added.
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