Madrid, July 5, 2012
COFIDES will finance the expansion of Losán Group in Romania with a loan of 1,491,139 euro. The total operation amounts to 2,130,199 euro, which will go towards the establishment of a logistics center for the classification of the final product.
COFIDES chairman, Salvador Marín, and Losán Group CEO, Alfonso Manuel López, today signed an agreement by which COFIDES will fund nearly 1.5 million from the Foreign Investment Fund (FIEX) that manages on behalf of the Secretary of State for Commerce.
Losán Group, founded in La Coruña in 1964, is devoted to the manufacture and marketing of wood board and melamine for the furniture industry, decoration and equipment. The production plant Losan in Romania is the largest of its kind in Europe and from there veneer supplies worldwide.
After the agreement signing, COFIDES chairman, Salvador Marín, has stressed that "this is the second operation we develop with Losán Group, what proves the excellent cooperation we have with the companies we work. We hope that this new project will contribute to increase productivity and therefore competitiveness Losán Group, which is one of the priorities of COFIDES to support economic growth in Spain.
Meanwhile, Losán Group CEO, Alfonso Manuel Lopez, has pointed out that "it is a source of satisfaction to perform a new operation with COFIDES and we hope to repeat the success we achieved with the one held in 2002." In addition, he has shown its confidence in future to carry out joint projects.
