Conaprole - Corporativo

A senior loan granted directly to Conaprole for up to US$50 million to finance the construction of a powdered milk plant for nutritional products, with a term of up to ten years, including a grace period of up to three years. The financing will make it possible to increase the production and export of higher added value products, diversify the portfolio of products and markets, improving the productivity and competitiveness of Conaprole and the Uruguayan dairy sector, which is aligned with one of the priority areas of Uruguay’s strategy of improving productivity and competitiveness through innovation and international integration. In addition, Conaprole’s more than 1,900 members and milk producers will benefit indirectly from to the company’s higher profitability margins.

Conaprole, created in 1935, is a leader in Uruguay’s dairy industry with a track record of more than 80 years; its market share in milk sales is greater than 70% and its 1,914 cooperative members/producers represent 75% of producers. Sixty percent of its income comes from exports and it is Uruguay’s principal exporter and the principal exporter of dairy products in Latin America, accounting for 3% of the global dairy trade. In fiscal year 2018, it processed more than 1,650 million liters of milk, and its principal exports are liquid and powdered milk, cheeses, yogurt, butter, ice creams, and dulce de leche, which it markets under its own brands on local and export markets.