- Region: Asia
- Manufacturing and Services
- Overseas Investment Loans
Marcht 20, 2014
The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Watanabe) signed today, a loan agreement with AIR WATER INC. (AIR WATER) to finance part of the funds required for acquiring Ellenbarrie Industrial Gases Limited (EIGL) in India. The loan is cofinanced with private financial institutions.
AIR WATER is aiming to expand overseas business by making use of its proprietary gas production technologies, such as VSU, high-efficiency compact liquid nitrogen/oxygen co-production plant and gas application technologies. With the acquisition of EIGL, which supplies liquefied gases and gas cylinders primarily in the eastern India, AIR WATER intends to build and expand a business model closely linked to the localities by supplying advanced gas production technologies and a variety of products owned by the AIR WATER Group through the business infrastructure and network of EIGL.
This loan supports overseas business deployment of AIR WATER by providing necessary long-term funds for overseas M&A of the Japanese company, thereby backing up its new business deployment and contributing to maintaining and strengthening the international competitiveness of Japanese industries.
As Japan's policy-based financial institution, JBIC will continue to support overseas M&A activities of Japanese companies in cooperation with private financial institutions.