Automotores y Maquinaria S.A.E.C.A.

repaid

The IIC Loan to Automaq will be used to provide a portion of the financing needed to implement the company’s expansion plan by opening, expanding, and upgrading service outlets outside the capital, in addition to meeting the company’s needs for marginal working capital.Established in 1961, Automaq is a Paraguayan importer, representative, and dealer of agricultural machinery and implements (e.g., John Deere, Kuhn, and Cestari). The company is also the exclusive representative of Peugeot and Citroën cars and utility vehicles; of Michelin and BFGoodrich tires; of spare parts for the machinery, implements, and vehicles it represents; of TOTAL lubricants; and of Clark, Komatsu, Bomag, and Ausa construction machinery. In addition, Automaq provides repair/maintenance and post-sale services for the machinery, tools, and vehicles it represents.Automaq currently has 11 outlets where it operates warehouses, sales offices, and some repair and maintenance workshops. Five of these outlets primarily cater to the agribusiness segment (agricultural machinery and tools). The company plans to open at least two additional outlets over the next two years to adequately leverage the potential of the agribusiness segment.Over the past five years, Automaq has bet heavily on the agricultural sector as Paraguay’s main driver of economic growth. Consequently, it has had to expand and upgrade its customer-care, sales, and post-sales outlets in the country’s main agricultural production centers.