COFIDES supports DeltacomGroup in its internationalisation process in Mexico

24/07/2017

Madrid, July, 24, 2017. COFIDES supports DeltaComGroup Ingeniería for the opening of a commercial office in Mexico.

To this end, COFIDES will provide €300,000 structured through the FONPYME (75%) and COFIDES own resources (25%) by way of a joint investment instrument. The total investment of the company in this project is €582,100.

DeltaComGroup is part of the telecommunications services sector, offers infrastructure network repairs, asset management, logistics and customised storage. Among its clients are the main telecommunications operators, equipment manufacturers and electric companies, railways and public administrations

The group consists of a number of subsidiaries; Some of them are commercial and productive as those in Spain, Russia, Mexico and soon Nigeria, and others are commercial subsidiaries like those in Germany, Holland and the United States. It has 44 employees in Spain and with this project, the creation of 14 jobs in Mexico is being proposed.

After the signing of the financial agreement, COFIDES Chairman Salvador Marín highlighted the international trajectory of DeltaComGroup in recent years. He also stressed that "the interest of Spanish entrepreneurs to grow internationally through their relations with Mexico has increased, therefore, COFIDES has established a specific facility for this country that is perfectly adapted to the needs of Spanish companies".

DeltaComGroup CEO, Antonio Peinado stated "Our company is immersed in a solid process of internationalisation and the telecommunications market in Mexico is one of the most relevant in Latin America." To achieve this, DeltaComGroup has designed a strategic expansion plan in different geographies to help and support globally its main customers.

TELECOMMUNICATIONS IN MEXICO

The telecommunications sector in Mexico accounts for 3.3% of its GDP. Investment grew by 35% in 2015 compared to the previous year, largely due to strong foreign direct investment amounting to $2,725m. Mexican operators billed €23,657m, of which 43% corresponded to the fixed business and 57% to mobile operators.

COFIDES is a combined private-public concern, which since 1988 has provided financial support to Spanish enterprises abroad. COFIDES manages the FIEX and FONPYME funds on behalf of the State Secretariat for Trade, within The Ministry of Economy, Industry and Competitiveness. The stockholders include the Bank of Bilbao Vizcaya Argentaria (BBVA), Santander Bank, Popular Bank, Sabadell Bank and CAF (Development Bank of Latin America).

 

 

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