COFIDES has extended a 600,000-euro joint-venture loan to the GENEBRE Group to increase 13% its equity share in the Brazilian subsidiary GENEBRE DO BRASIL INTERMEDIAÇOES DE NEGOCIOS, LTD.

Established in 1983, the GENEBRE Group is a SME specialized in the fluid valves design, production and sales, both for the construction and the industrial sectors. GENEBRE’s products can be grouped into four main categories: sanitary ware (brass valves), industrial valves, taps, heating valves.

In 2005, GENEBRE established a subsidiary in Brazil to develop a commercial structure for its sanitary and industrial lines of products. Nowadays, 25 employees work for this subsidiary. Additionally, the Group has subsidiaries in Argentina and China. All the Group’s subsidiaries started operations with financial support provided by COFIDES.

By financing viable private sector investment projects in developing and emerging countries undertaken by SMEs like the GENEBRE GROUP, COFIDES contributes both to the internationalization of Spanish enterprise and to the development of local economies both directly, with benefits stemming from the projects themselves, and indirectly, through the exponential effect of investment on the local community.