Fitesa

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Founded by the Ling family in 1973, Fitesa S.A. (“Fitesa” or the “Company”) is one of the world’s largest manufacturers of nonwoven spunmelt textiles for the medical, hygiene and industrial sectors.  Headquartered in Porto Alegre, Brazil, Fitesa operates 23 plants in 13 countries, 5 innovation centers.Fitesa produces nonwoven fabrics by spunmelt, meltblown, carded and airlaid technology, and elastic and non-elastic films and laminates. Nonwovens are produced by extruding a variety of polymers into filaments which are consolidated thermally into a flexible, fabric like web. All products are sold in rolled form. Customers use the fabrics for producing diapers, feminine care products, adult incontinence products, surgical masks and gowns, agricultural and industrial specialties.  In response to the COVID-19 Pandemic, Fitesa expanded and converted capacity to supply the healthcare sector with nonwovens for masks, respirators and hospital gowns in critically short supply.         IFC’s proposed investment consists of a $50m A Loan to support Fitesa’s expansion at two manufacturing plants in Brazil (Gravatai plant in the State of Rio Grande do Sul, and Cosmopolis plant in the State of Sao Paulo) including capex for maintenance and related working capital (“the Project”) associated with these two manufacturing plants in Brazil. Through its expansion, Fitesa seeks to continue providing high-quality products through advanced technology to the hygiene, healthcare and industrial segments in Latin America, particularly considering the heighted demand following the COVID-19 pandemic. The Project falls under IFC’s Global Health Platform, as it aims at increasing capacity for raw material for masks and other essential nonwoven products.