Project detail - INNOFA MEXICO SA DE CV

INNOFA MEXICO SA DE CV

Status: Completed investment
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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

The Innofa group established in 1922 in Tilburg, is an international family-owned manufacturer of knitted textile fabric. Innofa is one of the leading innovators in the industry serving leading brands like Tempur, Sealy, Daimler, Volvo, Ikea and Auping. In 2010 FMO financed the successful start-up of Innofa Mexico SA de CV and lnnofatex SA de CV with a senior loan of USD 1.6 million.

What is our funding objective?

Innofa is planning to extend its activities in Mexico in order to benefit from growth and internationalization of its key customers. Innofa approached FMO to finance USD 3.5 million, to be used for the construction of a new production facility and the investment in machinery.

Why do we fund this investment?

This transaction has an excellent fit with the FMO strategy as this is a Dutch interest transaction to a reputable company with international footprint, positive track record and good growth prospects. There is no commercial funding available for the required investments.

Website customer/investment
http://www.innofa.com
Region
Latin America & The Caribbean
Country
Mexico
Sector
Infrastructure, Manufacturing and Services
Effective date
6/28/2016
End date
9/5/2017
Total FMO financing
USD 3.50 MLN
Funding
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