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The Japan Bank for International Cooperation (JBIC, Governor: MAEDA Tadashi) signed today a loan agreement amounting to up to USD60 million (JBIC portion) with F&P MFG DE MEXICO, S.A. DE C.V. (F&P MEX), a Mexican subsidiary of F-TECH INC. (F-TECH). The loan is co-financed with MUFG Bank, Ltd. and Mizuho Bank, Ltd., bringing the total co-financing amount to USD100 million.
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The loan is intended to finance the funds necessary for F&P MEX to conduct the business of manufacturing and sales of automotive suspension parts.
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F-TECH is an automotive parts manufacturer that manufactures and sells automotive parts-related dies, machinery, and equipment as well as automotive parts. The said company founded F&P MEX in Mexico, which is the base of production and export of automobiles targeted to North America, and supplies automotive suspension parts. As orders from automakers have grown, F-TECH is planning to enhance F&P MEX’s production capacity including equipment. The loan will support F-TECH’s overseas business expansion, thereby contributing toward maintaining and improving the international competitiveness of Japanese industry.
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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.
