- Region: Asia
- Machinery and Equipment
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
June 16, 2015
The Japan Bank for International Cooperation (JBIC; Governor, CEO: Hiroshi Watanabe) signed a loan agreement on June 12 amounting up to THB38 million (JBIC portion) with SIAM SUN ENGINEERING CO., LTD. (SSE), a Thai subsidiary of Sun Engineering Co., Ltd. (SUN ENGINEERING; Headquarters: Gunma Prefecture; Representative Director and President: Nobuo Uetake). The loan is cofinanced with THE TOWA BANK, LTD.
The loan is intended to finance in local currency the machinery and equipment assembly and installation business of SSE in Chonburi Province, Thailand.
SUN ENGINEERING is a small and medium-sized enterprise (SME) providing assembly, manufacturing, installation, relocation and maintenance services for large machinery and equipment such as die-casting machines*1, and established SSE that assembles and installs large machinery and equipment to be used mainly on the assembly lines of automobile manufacturing factories in Thailand. Japanese manufacturers, such as automobile related manufacturers, are expected to continue to expand their operations in Thailand backed by the steady economic growth. Thereby, the loan will contribute to maintaining and strengthening of the international competitiveness of Japanese industries through supporting the overseas business deployment of SUN ENGINEERING.
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, including loans to meet the need for local currency funding, and schemes for structuring projects, and performing its risk-assuming function.
- *1 A die casting machine is a molding machine which produces castings of high dimensional precision in large quantities in a short time, by pressing molten metal (such as aluminum) under high pressure into a mold cavity.