26.04.2012 – 11:11
KfW IPEX-Bank supports India's packaging film manufacturer Uflex in expanding to Europe
Frankfurt am Main (ots)
- Promoting German export industry - Supplies from German SMEs - Supporting overseas expansion of long-standing client Uflex
KfW IPEX-Bank is also financing the third expansion project of the Indian flexible packaging manufacturer Uflex Ltd. with a total of EUR 30 million. The company is establishing its first European production facility in the town of Wrzesnia, Poland, in the Special Economic Zone of Walbrzych, some 50 km from Poznan. The factory will be able to produce 30,000 t of BOPET (biaxially oriented PET (polyester)) film annually for the sales market in Northern and Central Europe.
The plant and machinery will be supplied by the medium-sized German engineering firms Brückner Maschinenbau GmbH & Co. KG of Siegsdorf (Bavaria), Kampf Schneid- und Wickeltechnik GmbH & Co. KG of Wiehl (North Rhine Westphalia) and the subsidiary of the US electronics group Applied Materials, Applied Materials GmbH & Co. KG of Alzenau (Bavaria). The new BOPET film plant is to be completed by the end of June 2012.
By setting up modern production plants at strategically selected overseas locations Uflex is pursuing the goal of supplying its global sales market from a decentralised production. With the new state-of-the-art plant in Poland Uflex is responding to the closing down of old production facilities in Europe.
"The financing in Poland once again underscores the close and trustful relationship between KfW IPEX-Bank and the Uflex group", said Markus Scheer, member of the Management Board of KfW IPEX-Bank, on the occasion of the signing of the agreement. "With this transaction we are also supporting medium-sized German engineering companies, thereby fulfilling our mandate to provide financings that benefit the German export industry."
About KfW IPEX-Bank GmbH
KfW IPEX-Bank is responsible for international project and export finance within KfW Bankengruppe. Its function of providing financing to support the German and European economy is derived from the legal mandate of KfW Bankengruppe. Its prime focus is on medium- and long-term lending to support the export economy and develop economic and social infrastructure, and for environmental and climate protection projects. KfW IPEX-Bank operates as a legally independent group subsidiary and plays a major role in fulfilling the promotional mission of KfW Bankengruppe. It has 531 employees (as of 31 December 2011) and is represented in the key economic and financial centres around the globe.
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