Cifunsa S.A. de C.V.

completed

SUMMARY OF PROJECT INFORMATION (SPI)Country/Project Name Mexico - CifunsaRegion Latin AmericaSector Non-sectoralProject No. 4640Projected Board Date May 31, 1995Company Name Cifunsa S.A. de C.V.Technical Partner and/or Major Shareholders Cifunsa is a wholly owned subsidiary of Grupo Industrial Saltillo S.A. de C.V. (GISSA). GISSA''s shareholding is controlled 85% by its original founders, the Lopez family, while the remaining 15% is held by the general public. GISSA''s shares are traded in the Mexican Stock Exchange.Project Cost including proposed IFC investment US$45.9 millionLocation of project and Description of site Saltillo, Coahuila. The site is located in an industrial corridor on the northern side of the city. Description of Company and Purpose of Project Cifunsa is the leading Mexican producer of automotive engine block and engine head castings. IFC has been asked to partly finance the modernization, automation and expansion of the manufacturing operations of Cifunsa, as well as the improvement of its environmental facilities.Environmental Categories and Issues This is a category "B" project according to IFC''s environmental review procedure. Environmental issues associated with this project include air emissions, liquid effluents, solid wastes and land use. Occupational health and safety issues include equipment guarding, fire prevention, emergency response, and employee exposure to noise, molten metal, dust and hazardous materials.The Environmental Review Summary is expected to be available on or about May 15, 1995 from the Public Information Center. Host country location(s) of environmental documents: Chiapas 375 Pte., Apartado Postal 29-C, 25280 Saltillo, Coahuila, Mexico.Date SPI sent to PIC [To be input by Corporate Relations Unit}For additional Information contact: Corporate Relations Unit - telephone (202) 473-7711 - facsimile: (202) 676-0365.IFCSPI(04/04/95)Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).