PROJECT

Projects

Summary of Investment Information

Project Number

36116

Company Name

KEY SAFETY SYSTEMS MACEDONIA DOOEL

Date SPI Disclosed

Feb 11, 2015

Country

North Macedonia

Region

Europe

Projected Board Date

Mar 31, 2015

Environmental Category

B - Limited

Status

Completed

Last Updated Date

Jun 12, 2021

Department

Regional Industry MAS LAC & EUR

Industry

Manufacturing

Previous Events

Approved : Apr 7, 2015
Signed : Jun 10, 2015
Invested : Jun 29, 2015

Sector

Industrial Machinery

Project Description

IFC is considering a EUR 8 million investment to finance Key Safety Systems Inc.’s airbag cushion production plant in FYR of Macedonia. The project sponsor, Key Safety Systems Inc. (the “Company” or “Sponsor” or “KSS”), a US based leading global Tier I supplier of automotive safety systems and components, plans to launch production of airbag cushions in order to supply its European airbag production based in Romania.
The investment plan consists of launching a Brownfield operation in early 2015, followed by a Greenfield operation in mid-2015.The initial phase of the investment is focused on airbag cushion manufacturing and will create 700-1,000 new jobs.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation