24438 - EPIQ/ELEX II

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Summary of Proposed Investment

Project Number

24438

Company Name

EPIQ NV

Date SPI Disclosed

Oct 27, 2005

Country

Bulgaria

Industry

Manufacturing

Projected Board Date

Nov 30, 2005

Status

Completed

Sector

Motor Vehicle Parts

Department

Regional Industry MAS LAC & EUR

Environmental Category

B - Limited

Previous Events

Approved : Dec 16, 2005
Signed : Dec 19, 2005
Invested : Dec 30, 2005

Project Description

EPIQ Group (the Group or the company) is a contract electronics manufacturer (CEM) focusing on the automotive industry. The Group’s 100% Bulgarian subsidiary, EPIQ Bulgaria, is an existing IFC client since 2001. The proposed project is to finance partially the 2005-2007 expansion and working capital requirements of the Group’s subsidiaries, in Bulgaria and Mexico, for a total project cost of €43.0 million.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	24.87
Equity	0.0

Development Impact

The project will enable a leading contract electronics manufacturer in the automotive sector in Western Europe to modernize and expand its operations in Bulgaria and Mexico. The Project will add to the high skill base of both countries through the transfer of state of the art technologies.

The project will have a significant positive impact on the environment as the sensors produced by the Group will be used in diesel cars in Europe to monitor the emission of polluting gases and improve fuel efficiency. These sensors will enable automobile manufacturers meet stringent environmental regulations (Euro IV and Euro V) for polluting gas emissions in the European Union. The Project will also have a positive impact on the safety of automobiles as some of the products contemplated in the Project will be used in anti-lock braking systems.

The IFC loan is crucial to support the Group in its implementation of its three-year business plan investment program as its ability to raise financing locally in Bulgaria and Mexico is limited.

This is a Category B project according to IFC’s Procedure for Environmental and Social Review of Projects because a limited number of specific environmental and social impacts may result which can be avoided or mitigated by adhering to generally recognized performance standards, guidelines or design criteria. The review of this project consisted of appraising technical, environmental and social information submitted by the project sponsor, and visits to manufacturing plants in Botevgrad and Guadalajara. The following potential environment, health and safety and social impacts of the projects were analyzed.

- Environmental Management Systems
- Occupational Health and Safety Management
- Waste water and air emissions
- Hazardous material handling and disposal
- Solid waste management.
- Labor issues
Location of environmental documents In locally affected community
Environmental documentation will be made available at The Group’s plants in Botevgrad, Bulgaria and Guadalajara, Mexico.

Contacts

For Inquiries About the Project, Contact

Alexander Verhees, Joint CEO / CFO
Epiq NV, Transportstaat 1, B-3980 Tessenderlo, Belgium
E-mail: avh@epiq.be

This Summary of Project Information (SPI) is prepared and distributed to the public in advance of the IFC Board of Directors' consideration of the proposed transaction. Its purpose is to enhance the transparency of IFC's activities, and this document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only. The following SPI is disclosed in accordance with IFC's Disclosure of Information Policy that went into effect September 1998.

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