- Region: Asia
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
March 31, 2015
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The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Watanabe) signed today a loan agreement totaling to USD7 million (JBIC portion) with HIROSHIMA ALUMINUM INDUSTRY CO., LTD. (Hiroshima Aluminum; Headquarters: Hiroshima Prefecture; President: Fumiharu Tashima). The loan is cofinanced with private financial institutions.
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This loan*1 is intended to finance Hiroshima Aluminum for the establishment of HAL ALUMINUM (THAILAND) CO., LTD. (HALT) in Thailand to manufacture and sell automobile parts (aluminum alloy casting products).
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Since its foundation in 1921, Hiroshima Aluminum, a mid-tier enterprise, has been manufacturing and selling aluminum alloy casting and related products. In 2002, it established a local subsidiary in Vietnam and has been supplying auto parts to major automobile makers in the ASEAN region. In responding to the increasing needs of its major business customers in Thailand, the company established HALT as a new production base and intends to capture market share in Thailand, whose economy is expected to grow in the coming years. The loan will support such overseas business deployment of Hiroshima Aluminum and thereby contribute to maintaining and strengthening the international competitiveness of Japanese industries.
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As Japan's policy-based financial institution, JBIC will continue to support overseas business deployment of Japanese companies, including mid-tier enterprises and small and medium-sized enterprises (SMEs), in growing markets such as Thailand and other countries, by drawing on its various financial facilities and schemes for structuring projects, and performing its risk-assuming function.
Note
- *1 JBIC has signed a similar loan agreement with Hiroshima Aluminum in June 2014. See Press Release on June 30, 2014.