- Region: Asia
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
April 30, 2015
The Japan Bank for International Cooperation (JBIC; Governor, CEO: Hiroshi Watanabe) signed today, two loan agreements totaling to USD4,620 thousand (JBIC portion) with GLASEL CO., LTD. (GLASEL; Headquarters: Osaka; President: Toshiaki Tanimura). These loans are cofinanced with The Bank of Tokyo-Mitsubishi UFJ, Ltd., bringing the overall cofinancing amount equivalent to USD6,603 thousand.
These loans are intended to finance the manufacturing and sales business of cosmetic containers by GLASEL (THAILAND) CO., LTD. (GTCL), a subsidiary of GLASEL in Thailand.
GLASEL, established in 1960, is a small and medium-sized enterprise (SME) that plans, designs and sells a wide range of containers for cosmetics, medicine, reagent and health foods. The company established GTCL to capture market share related to cosmetics in ASEAN, where demand is increasing as the middle-income class is growing in line with economic development. Therefore, this loan contributes to maintaining and strengthening the international competitiveness of Japanese industries, through supporting the overseas expansion of GLASEL.
As Japan's policy-based financial institution, JBIC will continue to support the overseas business deployment of Japanese companies including mid-tier enterprises and SMEs, in growing markets such as Thailand, by drawing on its various financial facilities and schemes for structuring projects, and performing its risk-assuming function.