Drylock is a wholly owned subsidiary of Drylock Technologies NV, a global leader in personal hygiene product manufacturing. Headquartered in Zele, Belgium, it employs over 3,700 people in 10 production plants worldwide, including locations in the Czech Republic, Spain, Italy, the US, Brazil, and Russia. It is primarily owned by Bart Van Malderen, a seasoned Belgian entrepreneur with extensive experience in the hygiene industry, who holds a 75% stake through Belgium-based holding VM Invest NV. The remaining 25% is owned by Sofina SA, a Belgian asset manager listed on the Brussels stock exchange, which focuses on long-term investments, directly or through private equity funds, in companies with growth potential and sustainable business models across sectors such as technology, healthcare, consumer goods, and financial services.

Total Project cost is estimated at US$30 million, which IFC is proposing to finance through an A Loan of up to US$30 million.

The Project will be located in the peri-urban area of the city of Capivari, located approximately 140 kilometers northwest of São Paulo.

This is a Category B project according to IFC’s 2012 Policy on Environmental and Social Sustainability. The E&S risks and impacts are limited, site-specific, and can be easily avoided or mitigated by adhering to generally recognized Good International Industry Practices (GIIPs) and design criteria. Key E&S issues of the project include: (i) effectiveness of the plant level E&S management system (ESMS) to assess and manage E&S risks and impacts from construction and operation of the new facility funded under the project; (ii) management of labor and working conditions and occupational health and safety (OHS) policies and practices, and contractor’s management; (iii) resource efficiency, including use of energy and water; (iv) waste and wastewater management; and (v) stakeholder engagement and external grievance mechanism.