- Region: North America
- Manufacturing and Services
- Overseas Investment Loans
- The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) signed on May 15 a loan agreement amounting to up to USD42 million (JBIC portion) with Jefferson Industries Corporation (JIC), a U.S. subsidiary of G-TEKT CORPORATION (G-TEKT). The loan is co-financed with MUFG Bank, Ltd., bringing the total co-financing amount to USD70 million.
- The loan is intended to provide JIC with the funds necessary for its manufacturing business of automotive body parts in Ohio, United States, and capital investments to improve productivity at its production facilities.
- The North American automotive market is one of the largest and most mature in the world, and automobile production volumes are expected to continue growing steadily. G-TEKT is focusing on the local production of automotive body parts in North America, where Japanese automakers have established operations, and JIC, its U.S.-based manufacturing and sales subsidiary, serves as one of the key bases supporting its North American business. G-TEKT is strengthening its business foundation through JIC in the North American market, where demand is expected to remain firm, and as part of this effort, it aims to enhance corporate value by transforming the structure of its production facilities through the capital investment.
- This loan will support G-TEKT’s manufacturing business of automotive body parts in the United States, thereby enhancing its competitive advantage in the North American market. It will also contribute toward strengthening the resilience of supply chains as well as maintaining and improving the international competitiveness of the automotive industry, a core industry in Japan.
- As Japan's policy-based financial institution, JBIC will continue to provide financial support to help with efforts to enhance the supply chain resilience of Japanese industries and assist Japanese companies in the overseas expansion of their businesses.
Related Information
*JBIC is not a licensed bank in the State of Ohio.