The Arteche Group consolidates in Mexico with the support of COFIDES

A strategic project for the company

It is the first COFIDES project in which the variable sustainability component is linked.

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El Arteche Group, specialized in the design and manufacture of Electric equipment, strengthens its position in Mexico with the financial support of COFIDES. To this end, COFIDES will provide 3 million euros to the project company, Arteche North America SA de CV, through a co-investment loan from its own resources. COFIDES will thus contribute to financing the new production plant of the Arteche Group in Mexico for the production of medium and low voltage instrument transformers, power quality equipment and reclosers, which has been operational since 2019.

 

This is a strategic project for the company, as it will allow them to strengthen their operations in North America from Mexico . This market is experiencing growth in the electricity sector due to the development of renewable energies and the transformation of the industry. Therefore, the Arteche Group has decided to expand the production capacity of its existing plant in Mexico, as well as inaugurate the new factory that will be supported by COFIDES . This production expansion allows the Arteche Group to incorporate substantial technological improvements in key processes, as well as the use of automated systems.

 

 

The Group has been present in Mexico for more than 25 years, where it has three factories and more than 720 employees. COFIDES has supported Grupo Arteche in its international growth in China, Mexico and Argentina

 

 

 

This is the first project in which COFIDES has applied a sustainability component to its co-investment loans. This new COFIDES initiative, part of its 2019-2021 Strategic Plan , aims to boost the sustainability of companies receiving financing from the company. In this type of financing, COFIDES links the variable component of the loan to one or more indicators related to the project developer's sustainability strategy, which must be reported and certified periodically by an independent third party. In this Arteche Group project , the variable component of the loan is linked to the project company's reduction of CO2 emissions.

 

The Chairman and CEO of COFIDES, José Luis Curbelo , explained that “with this type of financing, we aim to encourage companies to continue promoting sustainability in their projects.” He added that “it is important to support companies that, despite the difficulties caused by COVID-19 , are committed to internationalization while also striving for sustainable growth.” In his opinion, “COFIDES is committed to sustainability and convinced that the effects of the pandemic cannot be an obstacle to achieving the 2030 Agenda and the Sustainable Development Goals .”

 

“Even in times as challenging as these, when our primary concern is health and, immediately after, the economy, we must maintain sustainability as a core principle of our business,” stated Alexander Artetxe, Chairman and CEO of the Arteche Group. “Because when we talk about sustainability, we’re talking about values. The same values ​​that have guided us since our beginnings almost 75 years ago.”

 

The Arteche Group is based in Mungia (Bizkaia) and is dedicated to the design, manufacture and marketing of electrical equipment and high technological solutions for the electricity generation, transport and distribution sectors, as well as in industrial electrical applications and turnkey projects of substations and renewable generation plants, power quality projects and distribution automation.

 

It makes relevant investments in R&D&i and has more than 140 employees who are dedicated to innovation and work on more than 100 projects. These investments are making it possible to enhance and adapt the traditional product and develop new solutions with a high technological component. The Group has more than 1.800 employees and is present on five continents.