Project detail - BRIMAX S.R.L.


Status: Approved investment
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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

Brimax S.R.L. is an Argentine producer of Autoclaved Aerated Concrete ("AAC"). Its manufacturing plant is located nearby Rosario, Santa Fe province.

What is our funding objective?

FMO will provide Brimax export credit financing in connection with Brimax's imports of capital goods and services from The Netherlands supplied by Aircrete Systems B.V. (Aircrete Europe)

Why do we fund this investment?

The proposed transaction fits with FMO's mandate. The borrower is a middle size company in emerging country. Brimax's final product (AAC) is more energy efficient than alternative products and will thereby have a positive environmental impact on the construction and housing sectors in Argentina. FMO will be supporting the expansion of Dutch firm Aircrete in international markets by financing their exports.

What is the Environmental and Social categorization rationale?

This is a category B project with limited remaining construction risks and virtually no negative impact on the environment. Specific human rights impacts were not identified. Argentinean E&S standards are relatively high. Relevant IFC PS are 1 (Assessment & management), 2 (Labor conditions) and 3 (Resource efficiency and pollution). IFC PS 4-8 are not applicable as the project has been developed in a designated industrial area with no direct adjacent inhabitation, land has been in ownership of one of the shareholders already for a long period, and no biodiversity, indigenous peoples or cultural heritage values are present in the project area. General EHS Guidelines apply.

Latin America & The Caribbean
Infrastructure, Manufacturing and Services
Publication date
Effective date
Total FMO financing
EUR 4.80 MLN
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)