Washington, D.C. /Buenos Aires - April
20, 2016 — IFC, a member of the World Bank Group, will provide an
$80 million financing package to support the expansion of Molino Ca˝uelas
SACIFIA, one of Argentina’s leading foods and agribusiness companies.
The financing will help Molino Ca˝uelas fund its working capital needs
and purchase machinery for new value-added product lines at its production
plants in Ca˝uelas and Carlos Spegazzini on the outskirts of Buenos Aires.
The food and agribusiness sectors are some
of the most dynamic and competitive markets of the Argentine economy. They
contribute with more than half of the country’s total exports and 20 percent
of its direct employment. Molino Ca˝uelas produces different types of flours
and premixes, edible oils, cookies, biscuits, pastas and frozen foods,
among other products. The financing package consists of $30 million for
IFC’s own account and $50 million raised by IFC from Rabobank, a financial
institution based in the Netherlands.
“Molino Ca˝uelas is embarking on an important
new chapter in our long history; we are excited to count on IFC’s support
while we diversify our products for local and export markets”, said Aldo
Navilli, President of Molino Ca˝uelas, who also adds that “This event
will have a positive impact not only for our company and its employees,
but the farmers and distributors in our supply chain.”
“With this financing, Molino Ca˝uelas becomes
a strategic partner for IFC in our goal to support key players in Argentina
that contribute to economic growth and social development”, said Liz Bronder,
IFC’s Director for Latin America and the Caribbean.
In the past twelve months, IFC has committed
over $1.2 billion in sustainable private sector projects in Argentina,
becoming the largest international source of financing to the country’s
private sector during this period. IFC finances projects in critical sectors
such as agribusiness, manufacturing, finance and energy, for spurring economic
growth, innovation and job creation in the country. IFC expects to invest
an additional $1 billion in private sector projects by the end of 2016,
as market conditions continue to improve and investors’ interest grow.
IFC, a member of the World Bank Group, is
the largest global development institution focused on the private sector
in emerging markets. Working with more than 2,000 businesses worldwide,
we use our capital, expertise, and influence, to create opportunity where
it’s needed most. In FY15, our long-term investments in developing countries
rose to nearly $18 billion, helping the private sector play an essential
role in the global effort to end extreme poverty and boost shared prosperity.
For more information, visit www.ifc.org.
About Molino Ca˝uelas
Molino Ca˝uelas produces different types
of flours and premixes, edible oils, cookies, biscuits, pastas and frozen
foods, among other products, with very important trademarks such as Pureza,
Ca˝uelas and 9 de Oro, all of them recognized in Argentina and in the entire
region. Molino Ca˝uelas is a fully integrated company, who works with farmers
providing facilities for the conditioning and storage of raw materials.
The Company acquire every year more than 2 million tons of grains and oilseeds,
that are industrialized and packed in its 9 industrials plants, and commercializes
its products in the local and abroad markets through multiple distribution
channels, supermarkets, medium and small shops, bakeries, restaurants,
among others. For more Information, visit: http://www.molinocanuelas.com