WASHINGTON, D.C., September 25, 1998 ---
The International Finance Corporation is investing US$16 million in Argentina's
leading producer of brass and metal fixtures, F.V., S.A., as part of the
Corporation's strategy to support the development of small- and medium-sized
The company will use the investment to streamline production lines,
reduce operating costs, improve the product quality, and increase production
capacity. State-of-the-art technology will be installed and IFC will help
F.V. improve its monitoring of environmental and safety standards.
F.V. is an established Argentine company with a 77-year history. This
year, the company's quality systems were certified to meet the ISO 9001
standards, providing its customers with a commitment to maintain the highest
standards of manufacturing practices.
In the fiscal year ending in June, IFC invested US$170 million in seven
projects in Argentina, ranging from agribusiness and manufacturing to education
IFC, part of the World Bank Group, fosters economic growth in the developing
world by financing private sector investments, mobilizing capital in the
international financial markets, and providing technical assistance and
advice to governments and businesses.