FV IV (IFC-39439)

Countries
  • Argentina
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
F.V. S.A.
The holder of the loan, grant, or other investment.
Sectors
  • Energy
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 25.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 40.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 11, 2017

Disclosed by Bank Mar 31, 2017


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Project Description
F.V. S.A. (“FV” or “the company” - http://www.fvsa.com/), is Argentina's leading producer of brass and metal fixtures for bathrooms and kitchens, including taps, showers, faucets, spouts, siphons and accessories. The company is looking for financing for its capex plan for the next two years, which includes the potential acquisition of a local companyand other capex plans in its existing plant such as the purchase of additional machines to produce in-house gas and water pipelines, and expand current FV capacity and energy efficiency investments in the fixtures business (the “project”). The proposed investment is US$25m A Loan to support these expansion plans. FV has a manufacturing plant in Argentina (Villa Rosa), and there are few industrial-supporting operations in the plant in Florida, from where the company has gradually migrated the industrial operations to the Villa Rosaplant.. As a group, FV has also one plant in Ecuador, some minority interest in a manufacturing plant in Brazil, and a participation in the companies Ferrum, CISA, and in the publicly traded company Fiplasto a wood panel company.This proposed project aims to support current operations in Argentina and the local acquisition.
Investment Description
  • International Finance Corporation (IFC)
The Company was founded in 1921 in Argentina by Franz Viegener and is still privately held by the Viegener family (the Sponsor). The total project cost is estimated at US$40 million. IFC will provide an A Loan for up to US$25 million to partly finance the Company's investment plan.
Contact Information
ACCOUNTABILITY MECHANISM OF IFC The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/