Summary of Proposed Investment
Project Number
11688
Company Name
Marcopolo Trading S/A.
Date SPI Disclosed
Oct 17, 2002
Country
Latin America and the Caribbean Region
Industry
Manufacturing
Projected Board Date
Nov 22, 2002
Status
Completed
Sector
Bus and Heavy Commercial Vehicle
Department
Regional Industry MAS LAC & EUR
Environmental Category
B - Limited
Previous Events
Approved : Dec 19, 2002
Signed : Feb 27, 2003
Invested : Mar 24, 2003
Project Description
Given the upsurge in demand and the growth prospects for exports and international operations, Marcopolo approached IFC for a $40 million financing package, which would help the company and Polomex:
IFC Role
IFC''s role in this project includes: providing long-term financing that is otherwise currently not available; advising the company on a more rational and sustainable financing structure and financial management through appraisal; and advising on best practices from around the world.
Development Impact
The IFC investment in Marcopolo will support the expansion of an internationally competitive bus body producer with plants in Brazil, Argentina, Colombia, Mexico, Portugal, and South Africa. The company is profitable and operates in a competitive market. It employes over 8,000 skilled workers and produces quality buses which adds to safe, competitively priced transportation services in the recipient countries. The company’s presence in international markets also enables it to bring new technology to the Brazilian market as well as to other emerging markets.
- maintain and upgrade equipment over the next 3 years;
- finance working capital needs stemming from both existing and expected growth in production; and
- refinance existing short-term debt.
IFC Role
IFC''s role in this project includes: providing long-term financing that is otherwise currently not available; advising the company on a more rational and sustainable financing structure and financial management through appraisal; and advising on best practices from around the world.
Development Impact
The IFC investment in Marcopolo will support the expansion of an internationally competitive bus body producer with plants in Brazil, Argentina, Colombia, Mexico, Portugal, and South Africa. The company is profitable and operates in a competitive market. It employes over 8,000 skilled workers and produces quality buses which adds to safe, competitively priced transportation services in the recipient countries. The company’s presence in international markets also enables it to bring new technology to the Brazilian market as well as to other emerging markets.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Mr. José Valiati
Av. Rio Branco, 4889 – Bairro Ana Rech
Caxias do Sul – RS – Brazil