Mexico City, Mexico. July 4th 2018
- The International Finance Corporation (IFC), a member of the World Bank
Group, and Export Development of Canada (EDC), export credit agency of
the Canadian government, will provide jointly US $150 million to CIE Automotive,
global supplier of components for the market automotive, to support its
growth in Mexico in the coming years.
The loan will be used for the acquisition
of machinery to increase the production capacity of parts for more efficient
engines and lighter and more electric vehicles. This modernization will
contribute to reducing the energy consumption of manufacturing operations
by at least 20 percent, which will generate less emissions of Greenhouse
According to Jesús Maria Herrera, CEO of
CIE Automotive: “Such growth will imply a forecast of 1,000 new employments
in the country. It will also enhance significant improvements in key indicators
in the automotive sector, such as energy efficiency and the development
of a competitive local supplier base”.
In the words of Ary Naïm, Country Manager
of IFC Mexico, "with this loan, the International Finance Corporation
supports the modernization of a key sector for Mexico, while promoting
the formation of more competitive value chains".
Investments in the automotive and other transportation
equipment sectors create opportunities and help reduce poverty by improving
the flow of goods and the mobility of people. Since the 1960s, IFC has
invested more than US $ 2 billion in these sectors in more than 30 countries.
IFC—a sister organization of the World Bank
and member of the World Bank Group—is the largest global development institution
focused on the private sector in emerging markets. We work with more than
2,000 businesses worldwide, using our capital, expertise, and influence
to create markets and opportunities in the toughest areas of the world.
In FY17, we delivered a record $19.3 billion in long-term financing for
developing countries, leveraging the power of the private sector to help
end poverty and boost shared prosperity. For more information, visit www.ifc.org.
About CIE Automotive
CIE Automotive is an international industrial
group that manages high value added processes in the Automotive sector.
Its strategy is based on diversification (geographical, commercial and
technological), financial discipline focused on cash generation and decentralized
management through lean structures. CIE designs and manufactures automotive
components globally with approximately 100 plants worldwide: North America
(Mexico and USA), South America (Brazil), Europe (Spain, France, Portugal,
Czech Republic, Germany, Italy, Romania, Slovakia, Lithuania, Russia),
Asia (India and China) and Africa (Morocco). Positioned as TIER 2, CIE
supplies its products both to vehicle manufacturers (OEMs) and to TIER
1 suppliers. Among its main customers are VW, GM, Renault, Ford, Fiat,
PSA, TRW, Continental, Faurecia, Visteon, Kayaba, NSK, Nexteer, Delphi,
Jtek, Autoliv, Bosch, GKN. CIE domains different technologies such as forging,
die-cast aluminum, casting, machining, plastic injection and stamping,
which allows the company to offer a wide range of products.