COFIDES supports the expansion of Panelfisa's production capacity in Mexico

Support in the internationalization of SMEs

The SME will acquire new machinery for the manufacture of screws thanks to a loan of 900.000 euros.

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COFIDES supports the expansion of Panelfisa in Mexico through a co-investment loan to the project company from its own resources and those of the FONPYME. The Company will invest 900.000 euros to expand the productive capacity of the SME through the acquisition of new machinery for its Mexican plant.

 

 

Panelfisa is specialized in the manufacturing and marketing of screws and fastening elements for the automotive sector. Accredited provider of Ford and the Volkswagen Group, the SME has been increasing its facilities in the country since 2019 and undertakes this investment to improve its technological, competitive and productive capabilities.

 

The improvement of its machinery involves the introduction of new technologies for stamping and cold lamination, selection by artificial vision and dimensional measurement of parts through a virtual system with which it will be able to undertake new and more complex projects.

 

It has two own factories (Basque Country and Mexico) and logistical-commercial implementations in Poland, Chile, Taiwan, Germany and Cuba. Around 75% of its turnover is directed towards export, which is concentrated in France, Germany, Mexico, Belgium, Chile, Poland, Czech Republic and Portugal.

 

The SME is part of the group of companies NER Group, an association that brings together various organizations that share synergies, experiences and knowledge.

 

In 2014, COFIDES already supported the production installation of Panelfisa in the Ibero-American country

 

José Luis Curbelo, president of COFIDES, has stressed “the importance of accompany SMEs in their internationalization process”. For the CEO of the Company, “Spanish companies have demonstrated a great capacity for integration in the global value chains, something in which the automotive sector is leading and that has important repercussions both for the generation of quality employment and for the development of an innovative and entrepreneurial culture.”

 

El general coordinator of Panelfisa, Saturnino Ormazábal, has assured that this investment confirms the decision that Panelfisa made in 2014 to open a production plant in Mexico. “With a new investment plan of €2.500.000 until 2023, Panelfisa is very grateful to COFIDES for its support on this path of growth and consolidation of the project in Mexico and that represents a strengthening of the company in Spain.”

 

Contribution to the SDGs

 

This project contributes significantly to the achievement of SDG 8, Decent work and economic growth. Currently, more than 40 people work in the company's Mexican plant, which generates more than 120 jobs in Spain.