CIE is a global Tier 2 automotive components and sub-assemblies supplier, headquartered in Bilbao, Spain, with 98 production sites located across 17 countries.  The Group has two business units: i) CIE Automotive which is focused on the design and manufacturing of components and sub-assemblies supplies for the automotive sector and represents approximately 78% of revenues and, ii) Dominion which provides services to the telecommunications, transport, healthcare, utilities, renewable energy and government sectors and represents approximately 22% of revenues.

The Group trades in the Madrid, Bilbao and Bombay stock exchanges; market capitalization as of October 13, 2017 of €3.1bn (price: €24.15, 52-week low: €16.26, 52-week high: €24.45) in the Madrid Stock Exchange. CIE is mainly owned by Acek Desarrollo y Gestion Industrial (formerly Corporación Gestamp) which has a direct and indirect participation of 20.9%, Mahindra & Mahindra which directly and indirectly owns 12.4%, Antonio Maria Pradera who directly and indirectly owns 10%, the Egaña Family (founding shareholders) with 9.6% indirect participation and Addvalia Capital S.A. and Alantra Asset Management S.A. with a 5% participation each.  The remaining is owned by other public shareholders.?

CIE’s 2017-2019 investment plan for Mexico has a total cost of US$234 million, out of which up to US$75 million will be financed with the IFC A Loan, up to US$125 million from B/Parallel Lenders the rest being financed from internal cash generation.

The project is being implemented in the states of Mexico, Guanajuato, Puebla and Coahuila, where OEMs and Tier 1 suppliers have confirmed to invest in expanding their production capacity .

This is classified as a Category B project in accordance with IFC’s Policy on Environment and Social Sustainability. Based on information reviewed by IFC, the proposed project will have limited adverse environmental and social (E&S) impacts that are few, site specific, largely reversible and readily addressed through existing mitigation measures and good international industry practices (GIIP). 

Key E&S issue and risks associated with the project include: the company’s EHS management and monitoring systems covering all its operations and facilities; consistent management of labor and working conditions, and occupational health and safety (OHS) policies and practices across all the facilities; resource efficiency measures, monitoring and management of air emissions, waste and wastewater and hazardous materials, community health and safety in case of potential emergencies, and the company’s CSR activities, including those for its supply chain.