Kepler Incentive Based Loan (IFC-47653)

Regions
  • Latin America and Caribbean
Geographic location where the impacts of the investment may be experienced.
Countries
  • Brazil
Geographic location where the impacts of the investment may be experienced.
Specific Location
Panambi (Rio Grande do Sul), Campo Grande (Mato Grosso do Sul)
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Mar 21, 2024
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
KEPLER WEBER S.A.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Agriculture and Forestry
  • 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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 30.15 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 150
Converted using 2024-03-21 exchange rate.
Loan Amount (USD)
$ 30.15 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 150
Converted using 2024-03-21 exchange rate.
Project Cost (USD)
$ 30.15 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 150
Converted using 2024-03-21 exchange rate.
Primary Source

Original disclosure @ IFC website

Updated in EWS Sep 10, 2024

Disclosed by Bank Sep 3, 2024


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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the IFC, the proposed investment consists of an A Loan of up to BRL 150 million, with 7-year tenor (including 2 of grace) and security over fixed assets to Kepler Weber SLL. The proceeds will finance Kepler’s capital expenditure plan for 2022-2024 at Panambi and Campo Grande manufacturing facilities, which includes: (i) expanding manufacturing capacity; (ii) productivity increase investments and new product development; (iii) plant modernization; (iv) purchase of a new powder painting line; and (v) IT infrastructure investments.

Kepler is a publicly listed Company trading in Brazil’s Novo Mercado that has been in operation since 1925. The Company produces and assembles tailor-made grain storage and conservation systems, such as: silos, grain dryers and cleaning machines, metaling structures, transporting lines, and other products that contribute to improving the logistics of agribusiness sector in Brazil. Headquartered in Panambi/Brazil, Kepler has two manufacturing plants (Panambi and Campo Grande) with capacity to supply equipment for storage of 5 million tons of grain per year, seven distribution and service centers across Brazil, and one administrative office in Sao Paulo.

The two manufacturing plants total 88,000 m². The Panambi plant (55,000 m²) began operations in 1975 and is located in an industrial complex 4.5km south from the city of Panambi, in the State of Rio Grande do Sul. The Campo Grande plant (33,000 m²) start operating in 2004 and is located in an industrial complex 15 km east from the city of Campo Grande, in the State of Mato Grosso do Sul.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by the IFC, Kepler Weber Industrial S.A. is a privately held corporation, whose sole shareholder is Kepler Weber S.A. with 100% participation in its share capital. The Guarantor Kepler Weber S.A is listed company in the São Paulo Stock Exchange. As of March 11, 2024, Kepler’s shareholding structure is comprised of 60.2 percent of free-floating shares with the remaining shares being held by Trigono Capital, an asset management firm, with 21.7 percent, the Heller Family, with 11.6 percent, Tarpon Investimentos, an independent asset manager in Brazil, with 4.9 percent, and treasury shares, with 1.7 percent. 

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
Kepler Weber S.A. Parent Company Industry and Trade owns Kepler Weber Industrial S.A. Client Agriculture and Forestry

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

General IFC Inquiries - IFC Communications:

Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Telephone: +1 202-473-3800
Fax: +1 202-974-4384

Client - Kepler Weber Industrial S.A.:

Paulo Geraldo Polezi - Administrative and Financial Director
Phone: +55 11 – 4873-0300
Email: paulo.polezi@kepler.com.br
Address: Rua do Rocio 84, 3 Andar, Vila Olimpia, Zip Code: 04552-000, São Paulo – SP, Brazil
Website: https://www.kepler.com.br/start / https://ri.kepler.com.br/en/   

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

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

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How it works