5/17/2023 0 Comments Pemsa ramos arizpeThe President of COFIDES, José Luis Curbelo, stressed that CIE Automotive is committed to R&D in order to develop innovative and efficient products that place the Spanish automotive sector in positions of global leadership and respond to the interests and new demands of the market. With these investments, CIE Automotive will be able to expand the capacity of these plants and meet the demands of new customers.ĬOFIDES and CIE Automotive have collaborated since 2004 in various projects to support the group’s international strategy in Mexico, the Czech Republic, Lithuania and Romania. It was with this plant that CIE Automotive began its activity in Mexico in 2003, when it also had the support of COFIDES.Īnother 18.5 million euros (US$20.8 million) will be allocated to CIE Pemsa, a plant specializing in production processes of stamping, assembly and painting, and 10.5 million euros (US$11.8 million) to CIE Nugar, located in Tultitlán, State of Mexico, dedicated to stamping and assembly. The facility is dedicated to metal stamping and high-pressure aluminum die casting. Thus, COFIDES will provide 50 of the more than 75 million euros of total investment required by the projects.Īccording to a statement, 21 million euros (US$23.6 million) will be allocated for the execution of new projects at CIE Celaya, one of the six plants the company operates in Celaya, Guanajuato. The financing will be made through three co-investment loans charged to the own resources of COFIDES and the FIEX, which COFIDES exclusively manages on behalf of the Secretary of State for Trade. The President and CEO of COFIDES, José Luis Curbelo, and the CIE Automotive CEO, Jesús Maria Herrera, signed the financing agreements at the COFIDES headquarters in Madrid in the presence of the Minister of Industry, Trade and Tourism, Reyes Maroto, and of the President of CIE, Antón Pradera. Compañía Española de Financiación del Desarrollo (Cofides), a development bank comprised of public and private funds that supports the internationalization of Spanish companies, announced it has granted a 50-million euros credit line (around US$56.2 million at current exchange rate) to automotive supplier CIE Automotive for investment plans in Mexico.
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