VISSCHER CARAVELLE MEXICO S.A. DE C
Status: Completed investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Visscher Caravelle Mexico S.A. de C.V. is a subsidiary of the Dutch carpet products producer Visscher Caravelle (VC) from Genemuiden. VC’s main business is the production of car-mats (>90 percent of overall business) wherein it is one of the largest producers in the world and an important supplier to many major car brands. VC has manufacturing plants in Europe and Asia and established a new facility in Mexico in 2014 to service North-American car manufacturing plants.
What is our funding objective?
VC Mexico has signed new supply agreements with various car manufacturers that have their assembly lines in Mexico. Therefore, investments are required in the existing facility to increase its production. VC approached FMO-FOM for financing to be used for the expansion of the Mexican production plant, in particular the purchase of new sewing and weaving machine plotters and injection molding equipment.
Why do we fund this investment?
This transaction has an excellent fit with FMO-FOM: Dutch interest transaction to a reputable company with international footprint, positive track record and good growth prospects. A yet to be conducted feasibility study should assess opportunities for recycling and using bio-based and recycled raw materials as inputs. Furthermore there is no commercial funding available for the required investments.
- Region
- Latin America & The Caribbean
- Country
- Mexico
- Sector
- Infrastructure, Manufacturing and Services
- Effective date
- 6/9/2016
- End date
- 2/19/2020
- Total FMO financing
- EUR 1.60 MLN
- Funding
- Fund Emerging Markets
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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