- Region: Latin America and the Caribbean
- Manufacturing and Services
- Overseas Investment Loans
December 24, 2013
The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Okuda) signed today a loan agreement amounting up to USD6.31 million with Molitec Steel Mexico, S.A. de C.V. (MSM), a Mexican subsidiary of MOLITEC STEEL CO., LTD. (MOLITEC). The loan is cofinanced with The Bank of Tokyo Mitsubishi UFJ, Ltd., which brings the overall cofinancing amounts to approximately JPY1 billion.
This loan is intended to finance the manufacturing and sales of automobile parts such as continuously variable transmissions, upon MOLITEC newly establishing MSM in the state of Aguascalientes in West-Central Mexico.
In Mexico, automobile manufacturing is expanding and many Japanese automobile manufacturers and part-makers are also vigorously developing business there. Amid these circumstances, MOLITEC established MSM in March 2013, and plans to strengthen its manufacturing and sales to local Japanese automobile manufacturers. This loan will contribute to maintaining and improving the international competitiveness of the Japanese automobile parts industry, through supporting MOLITEC's overseas business deployment.
As Japan's policy-based financial institution, JBIC will continue to support the overseas business deployment of Japanese companies by drawing on its various financial facilities and schemes for structuring projects, and performing its risk-assuming function.