Loan for Automotive Parts Manufacturing and Sales Business of Ahresty Corporation’s US Subsidiary
Supporting Overseas Business Expansion of Japanese Automotive Parts Manufacturer
- Region: North America
- Manufacturing and Services
- Overseas Investment Loans
The Japan Bank for International Cooperation (JBIC; Governor: MAEDA Tadashi) signed on July 2 a loan agreement amounting to up to USD12 million (JBIC portion) with Ahresty Wilmington Corporation (AWC), a US subsidiary of Ahresty Corporation (Ahresty). The loan is co-financed with Mizuho Bank, Ltd., bringing the total co-financing amount to USD20 million.
This loan is intended to partially provide the funds required by AWC to conduct the manufacturing and sales business of aluminum die cast products for automobiles.
AWC manufactures and sells aluminum die cast products for automobiles in the United States, which is one of the world’s leading automotive markets, and the company is planning to renovate its manufacturing equipment and expand its manufacturing line, mainly for electric vehicles. The loan will support Ahresty’s overseas business expansion, thereby contributing toward maintaining and improving the international competitiveness of Japanese industry.
As Japan’s policy-based financial institution, JBIC will continue to provide financial support to assist Japanese companies in the overseas expansion of their businesses by drawing on its various financial facilities and schemes for structuring projects and by performing its risk-assuming function.