Summary of Proposed Investment
Project Number
8319
Company Name
F.V. S.A.
Date SPI Disclosed
Oct 9, 1997
Country
Argentina
Industry
Manufacturing
Status
Completed
Sector
Other Miscellaneous Fabricated Metal Products (Including Non-Wood Housing Products, Tanks, Cutlery, Kitchen Utensils and Handtools, etc.)
Department
Gbl Ind, Manufact, Agribus & Services
Environmental Category
B - Limited
Previous Events
Approved : Dec 11, 1997
Signed : Sep 23, 1998
Invested : Dec 11, 1998
Project Description
Summary Of Project Information (SPI)
| Project Name | Argentina - F.V. S.A. |
| Region | Latin America and Caribbean |
| Sector |
Projected Board DateNovember 15, 1997
Company NameF.V. S.A.
Technical Partner and/or Major Shareholders
Holvie S.A., N.V. Sociedad Anónima, Misupani S.A. and J.V. e Hijos S.A. control over 70% of the shares of the Company.
Project Cost Including proposed IFC investment
US$60 million. IFC is considering a total investment of US$20 million including an A loan of US$15 million and a C Loan of US$5 million, both for its own account.
Location of project and Description of site
The Company’s main plant is located in Villa Rosa, Province of Buenos Aires, and has a covered area of 60,000 sq.m. A smaller plant and the Company’s headquarters are in Florida, Province of Buenos Aires, with a covered area of 8,000 sq.m..
Description of Company and Purpose of Project
F.V. S.A., a second-tier family-owned and managed company, is Argentina’s leading producer of brass and metal fixtures for baths and kitchens. The Project includes (a) expanding production capacity by 50% by eliminating bottlenecks, reducing operating costs and improving the quality of the Company’s product lines; (b) modernizing production technology; and (c) improving efficiency and safety of the operations. The Project will help FV to enhance its competitiveness and improve its operational efficiency, and increase exports. Furthermore, IFC’s involvement in this Project will help FV improve the operation’s environmental standards.
Environmental Category and Issues
This is a Category B project according to IFC’s environmental review procedure. Environmental, occupational health and safety issues associated with this project include: air emissions, liquid effluents, solid and hazardous waste disposal, and worker exposure to high temperatures, fumes, noise, and dust. Air emissions from the Villa Rosa plant’s air pollutants include fumes from induction furnaces, electroplating baths, and the electrostatic spray chambers. New equipment and modernizations conducted as part of the project will be designed to meet World Bank guidelines. FV has agreed to implement a Corrective Action Plan and schedule to bring the remainder of its operations into compliance with World Bank guidelines.
The is from the Public Information Center.
| Date SPI sent to PIC | October 9, 1997 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 974-4384
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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