Project detail - SYNTECH INTERNATIONAL B.V.

SYNTECH INTERNATIONAL B.V.

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Who is our client

Syntech International B.V. is part of the Syntech Group. The group - more commonly referred to as Royal Kusters Engeneering - is based in Venlo and dates back to 1911. It has a long history in recycling equipment. From that is has evolved into a manufacturer of custom-desigined bank note disintegration systems, coin crushing sytems and high security media destruction systems. The beneficiary of the FOM funds, Kusters Engeneering India, started as a service provider to the Reserve Bank of India, where the company is still repsonsible for the maintenance of the disintegration machines. Today, the company is active in banking automation equipment.

Funding objective

The funding objective is the acquisition and refburbishment of a new office in India and the finance of working capital requirements. This will enable Kusters Engineering India to subscribe for large banking automation tenders and expand its turnover and product range.

Why we fund this project

Long term funding for foreign subsidiaries of Dutch SMEs is hard to obtain. Commercial banks are not willing to finance the activities in India and local Indian banks do not want to provide long term funding. FMO therefore fills a funding gap, supporting this company in its growth ambitions.

More investments

Date Total FMO financing
6/23/2014 EUR 1.00 MLN
Region
Asia
Country
India
Sector
Infrastructure, Manufacturing and Services
Signing date
3/24/2014
Total FMO financing
EUR 2.00 MLN
Fund
Fund Emerging Markets
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk Environmental & Social Category
(A, B+, B or C)
B