Company name
Grupo Vasconia, S.A.B.
Project number
13846-01
Category B projects have potential environmental and/or social impacts and risks that are less adverse than those of a Category A and which are generally limited to the project site, largely reversible and can be mitigated via measures that are readily available and feasible to implement in the context of the operation.
E&S category
B
Country
Mexico
Sector
Manufacturing
Status
Inactive
Disclosed date
03/11/2022
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
04/11/2022
Approval date
04/11/2022
Signed date
N/A
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
N/A
Financing amount
USD $ 49,904,800
Currency
MXN
Project scope and objective
This transaction consists of a Partial Credit Guarantee to Grupo Vasconia S.A.B. (“Vasconia” or the “Group”) for bond issuances by the Group under its program (the “Project”). Vasconia is a Mexican industrial group mainly dedicated to aluminum manufacturing and production. It is organized into two divisions: i) consumer products, Vasconia Brands S.A. de C.V, with three plants mainly dedicated to the manufacture and sale (online) of tableware and kitchenware under different brands; and ii) industrial products, Almexa S.A. de C.V. with two operating plants and one in the late stages of construction, which manufacture aluminum sheets from recycled aluminum from local sources (68%) and imported primary aluminum (32%).
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Contact information
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Client Contact
N/A
PHONE NUMBER
N/A
POST OFFICE ADDRESS
N/A
IDB Invest Contact
requestinformation@idbinvest.org
PHONE
+1(202)-566-4566
ADDRESS
1350 New York Ave NW, Washington, DC 20005
COUNTRY OFFICES
IDB Invest Country OfficesIndividuals or communities can submit complaints and concerns related to environmental, social, or corporate governance issues to the Management Grievance Mechanism by e-mailing mgm@iadb.org or by calling +1 202 312 4040.
As a last resort, affected communities have access to the IDB Invest Independent Consultation and Investigation Mechanism by writing to mecanismo@iadb.org or MICI@iadb.org or calling +1(292) 623-3952.
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
Environmental and social review
IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. For projects approved as of 2016, any gaps with respect to IDB Invest's Environmental and Social Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) presented below, to comply with the date mentioned above.
VASCONIA 13846-01 ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)
317.4 Kb
VASCONIA 13846-01 ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)
112.6 Kb