Ferrum I (IFC-41015)

Regions
  • Latin America and Caribbean
Where the impacts of the investment may be experienced.
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
Proposed
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
FERRUM S.A.
The holder of the loan, grant, or other investment.
Sectors
  • 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)
$ 16.00 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)
$ 20.00 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 Nov 23, 2018

Disclosed by Bank Oct 12, 2018


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

According to IFC website, Ferrum S.A. de Cerámica y Metalurgia, founded more than 100 years ago, is Argentina’s largest producer of ceramic sanitary ware. Ferrum sells mostly toilets, sinks, stands, bidets, and urinals which are produced in its two plants in Avellaneda and Pilar (Buenos Aires Province). Ferrum employs over 1,500 people and commercializes its product through a well-established distribution network. This project consists of investments to be done at the two major plants for the next two years, regarding new equipment and upgrades. 

 

Investment Description
  • International Finance Corporation (IFC)
Private Actors
Contact Information

Project Contact: Alexis Ravnik
CFO, Ferrum S.A. de Ceramica y Metalurgica  
Telephone No.: +54 11 4222-1500
Email Address: aravnik@ferrum.com
Office Address: Espana 496, Avellaneda, Buenos Aires, Argentina
Website: www.ferrum.com

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/