Ottawa, Canada – Export Development Canada has arranged $100 million (U.S. dollars) in financing for Mexico’s Metalsa, S.A de C.V. (Metalsa), a producer of automotive structures such as chassis, suspension, cradles, and stampings.
The financing will be used for general corporate purposes, upsizing, and extending an existing credit facility that Metalsa has with EDC. The financing is also designed to help open doors for Canadian businesses to enter Metalsa’s supply chain, which is considerable given they are direct suppliers to auto-giants like Toyota, Ford, and Chrysler.
“Our financing for foreign buyers can pay important dividends to Canadian companies,” says Carl Burlock, Senior Vice-President, Financing and Investment, EDC. “Since we began working with Metalsa more than 15 years ago, we’ve seen their Canadian supply increase by more than 800%. That, by any standard, is a good return on EDC’s efforts to introduce new suppliers to Metalsa.”
EDC gets to know and understand what foreign companies like Metalsa need, and where they want to grow. With that knowledge, EDC seeks out Canadian companies that meet those needs and introduces them to senior buyers.
For example, Metalsa is currently interested in Canadian companies that could supply tooling, stamping, fixtures, and prototyping services for their new projects in Mexico and the US.
“If your company meets these needs, please contact us; we’re always looking to make introductions,” adds Burlock.
EDC is Canada’s leading provider of financing, insurance and bonding products for small Canadian companies that have business outside of Canada. EDC also provides financial services for foreign companies that buy from Canadian companies, or those that have Canadian supply and services in their corporate value chains.
Source: Export Development Canada