- Region: Asia
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
July 17, 2015
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The Japan Bank for International Cooperation (JBIC; Governor, CEO: Hiroshi Watanabe) signed today a loan agreement in the amount of up to USD5 million (JBIC portion) with HAL Vietnam Company Limited (HALV), a subsidiary of HIROSHIMA ALUMINUM INDUSTRY CO., LTD. (Hiroshima Aluminum; Headquarters: Hiroshima Prefecture; President: Fumiharu Tashima) in Vietnam. The loan is cofinanced with private financial institutions.
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The loan is intended to finance the expansion of existing facilities, for manufacturing of HALV's aluminum die-casting automobile parts used in engines and transmissions.
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Hiroshima Aluminum is a mid-tier enterprise manufacturing and selling automobile parts, and since the establishment of HALV in 2002, has supplied parts to major automobile manufacturers in Vietnam, including local subsidiaries of Japanese auto manufacturers. Amid the expected growth in demand for automobile parts centering on Asia, Hiroshima Aluminum plans to expand its production capacity in response to the needs of major customers. Thus, this loan will contribute to maintaining and strengthening the international competitiveness of Japanese industries, through supporting the overseas business deployment of Hiroshima Aluminum.
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As Japan's policy-based financial institution, JBIC will continue to support the overseas business deployment of Japanese companies, including mid-tier enterprises and small and medium-sized enterprises (SMEs), in growing markets such as Vietnam, by drawing on its various financial facilities and for structuring projects, and performing its risk-assuming function.