Industrias de Foam S.A. de C.V.
Category B projects have potential environmental and/or social impacts and risks that are less adverse than those of a Category A and which are generally limited to the project site, largely reversible and can be mitigated via measures that are readily available and feasible to implement in the context of the operation.
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
Fonseca, Juan Reyes
USD $ 10,000,000
Project scope and objective
Indufoam is an El Salvador-based company engaged in the production of a variety of sleep-related products, including beds, mattresses, foam mattresses, furniture, and accessories. The Company's products are exported to Central and South America, as well as South Africa.
The proposed transaction is a medium-term credit facility intended to finance the expansion of the industrial plant, improvements of existing equipment and manufacturing capabilities, and new working capital needs for growth. This loan will be for up to a five years term and will have the complement of an un committed tranche, at IDB Invest's discretion, that will allow the necessary flexibility for the Company to complete and fulfill the progress of its investment plan.
The main goal of this transaction is to enable Indufoam to meet increased demand and expand into new technologies and efficiencies, so that it can produce mechanisms and accessories that are currently only manufactured in the United States or Europe and convert itself as a key supplier to the regional markets. This will not only create new jobs, but will also increase exports, strengthening product lines, and consolidating its role as a regional company.
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Director Financiero Administrativo
IDB Invest Contact
1350 New York Ave NW, Washington, DC 20005