MAXAM
MAXAM agrees with the ICO, BANKIA, BBVA and BANESTO a credit for financing its project in China
2011.12.15
Press room - News - MAXAM agrees with the ICO, BANKIA, BBVA and BANESTO a credit for financing its project in China
The agreement will finance 40 of the 70M€ which involves the commissioning of the plant in Shandong designed to produce explosives and initiation systems for civil use - mining, quarrying and construction of infrastructures.
MAXAM has signed an agreement with the ICO, Bankia, BBVA and Banesto, for which these entities will finance 40 of the 70 M€ which involves the project of entry in China. One of the world’s main mining markets and one of the countries with a major activity in the sectors of construction and infrastructures.Through a JV with two local partners, MAXAM is building a factory in the province of Shandong for the production of civil explosives and initiation systems for the sectors of mining, quarrying and construction and infrastructures in the Chinese market.
Its commissioning is scheduled for 2013 with an estimated staff of 300 people. The project will involve an investment of 70M€ in the coming years and counts with the support of the Chinese authorities at all levels; state, regional and municipal.
As expressed by José Fernando Sánchez-Junco, Chairman & CEO of MAXAM, "China is the continuation of MAXAM’s consolidation project in Asia, where for years we already have a strong position in Uzbekistan, Kazakhstan and Mongolia.”
“To enter China is a step forward in our strategy of geographic diversification, complemented by MAXAM's commitment to innovation and technological development, to offer our customers the most comprehensive range of products and services with which to increase their value chain,” concludes Sánchez-Junco.
MAXAM is one of the leading foreign investors in Central Asia with operations in Kazakhstan, Uzbekistan and Mongolia in the production and sale of explosives and initiation systems for the sectors of mining, quarrying and the construction of infrastructures.
This credit, intended for external financing, complements and strengthens the financial structure of MAXAM obtained when signing a syndicated credit of 295M€ with a pool of 19 credit entities on August 2010. The credit now signed reaffirms the strong support and confidence the financial system has in MAXAM’s strategy of diversification and international expansion.
MAXAM
MAXAM is an industrial and service group that operates at a global scale: MAXAM develops, manufactures and commercializes products and services for blasting and initiation systems for mining, quarrying and infrastructures; hunting cartridges and powders for sports use, and products and services for the defense industry. It is also a supplier of key raw materials in the activity of nitro chemical energy as nitrocellulose and ammonium nitrate, both for the internal needs of MAXAM, as for its sale to third parties. Finally, MAXAM offers its customers a range of solutions in safety and environment as a result of its own technological development in these areas.
MAXAM, has an annual turnover close to 1,000 M€, it is present in the main mining areas of the world with manufacturing facilities in 40 countries and sales in more than 100 in the five continents - and over 6,000 employees.
MAXAM’s complete offer to the businesses and markets where it operates integrates State of the Art products of the highest quality and safety and the most comprehensive technical advice, contributing with this all to improve the services provided to its customers. Its vast international presence, its continuous research efforts, along with its stringent Corporate Policies, make of MAXAM an active Company committed to the progress and development of society within the highest standards of sustainability and care for the environment.
