Summary of Proposed Investment
Project Number
4988
Company Name
Mallory Limitada
Date SPI Disclosed
Oct 20, 1995
Country
Brazil
Industry
Manufacturing
Status
Completed
Sector
Household Appliances (Including Refrigerators, Laundry Machine, Dishwashers, etc.)
Department
Regional Industry MAS LAC & EUR
Environmental Category
B - Limited
Previous Events
Approved : Jan 23, 1996
Signed : May 31, 1996
Invested : Jun 13, 1996
Project Description
Summary Of Project Information (SPI)
| Project Name | Brazil-Mallory |
| Region | Latin America and Caribbean |
Sector
Project No004988
Projected Board DateNovember 30, 1995
Company NameMallory Limitada (“Mallory”)
Technical Partner and/or Major Shareholders
Mallory’s major shareholders are: entities controlled by Donaldson Lufkin and Jenrette Merchant Banking Partners, L.P.(“DLJMB” - 45%), Brazil Equity Investments (“BEI” - 25%), Argentina Equity Investments (“AEI” - 16%), and Mr. Marcel Vanden Bussche (14%). DLJMB is the merchant banking arm of Donaldson Lufkin and Jenrette, a leading US investment bank. BEI and AEI are both private equity investment funds. BEI is co-managed by Banco Garantia, a leading Brazilian investment bank and by BEA Associates, a US asset management company. AEI is managed by BEA Associates.
Project Cost Including proposed IFC investment
US$32.3 million; Proposed IFC investment of about US$10 million.
Location of project and Description of site
Mallory´s existing plant is in Itapevi, just outside São Paulo. The new plant is to be located in Maranguape, 25 km south of Fortaleza, in Brazil´s northeastern state of Ceará.
Description of Company and Purpose of Project
Mallory is one of Brazil’s leading producers of small electric home appliances and industrial components. As part of an overall modernization process, Mallory is implementing a US$32 million investment program. Mallory assembles and manufactures two main lines of products: (i) small home appliances such as table fans, irons, vacuum cleaners and blenders; and (ii) industrial components such as small electric motors and pumps used in the manufacture of dishwashers, washing machines and dryers. The project is aimed at broadening Mallory´s product range through the expansion and improvement of its production facilities at its existing plant in Itapevi and establishing a new plant, to be located in Maranguape, state of Ceará. The new plant will assemble fans and (eventually) motors.
Environmental Category and Issues
This is a category B project according to IFC´s environmental review procedure. Environmental and occupational health and safety issues associated with this project include air emissions, liquid effluents, solid wastes, and general employee training, health and safety. Plant operations do not generate air emissions or industrial liquid effluents. Mallory has invested in an effluent treatment unit to treat its domestic sewage. Currently the plant complies with local liquid effluent regulations and will be optimized to ensure continued compliance with World Bank guidelines. Solid and organic waste are reused or processed for recycling. Employee occupational health and safety issues are addressed through a comprehensive program that includes operational and safety training and health monitoring. The Company has trained selected employees in fire control and community coordination. IFC will ensure ongoing compliance with World Bank guidelines during the life of the project by evaluating monitoring reports submitted annually to IFC by Mallory, and by conducting periodic supervision.
The is from the Public Information Center.
| Host country location of environmental documents | Estrada Velha Realde ITÚ, 111, 006651-970, Itapevi, SP, BRAZIL |
Date SPI sent to PIC October 20, 1995
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 676-0365
Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
Sponsor / Cost / Location
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