SOFID supports IBEROMOLDES Group’s Project in Brazil

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Created on Tuesday, 30 September 2014 11:02

IBER-OLEFF Brazil was established in 1998, as a result of IBEROMOLDES Group’s internationalization strategy for the automotive sector. The company started its activity in 2002, in close partnership with VW, when the decided on the production of the Polo model in Brazil. Since then, the company has evolved quickly, establishing partnerships with other car manufacturers with a strong presence in that market, such as FIAT, FORD and GM. Recognized by its quality and performance, in 2012 IBER-OLEFF was considered a strategic supplier for the country by HONDA and Renault, currently its main customers.

The project presented to SOFID, has as main goals the improvement of the company’s operating performance, the adaption of its production and logistics to the growing demand of its customers, and the reinforcement of local staff’s technical and managerial skills. For the total investment of up to EUR 2.5 million, the company requested the participation of SOFID in the form of a loan to IBERMOLDES Group, amounting up to EUR 1.5 million.

The project has contributed to the country’s economic and social development through the maintenance of the factory’s current 430 jobs and by the appropriate training of the employees as means of increasing the productivity and efficiency. Regarding environmental issues, the necessary requisites toward the obtainment of environmental certification ISO 14000 are applied, which demonstrates the company’s preoccupation with environmental and sustainability issues.