Johnson Electric

completed

Founded in 1959 and headquartered in Hong Kong, Johnson Electric (“JE” or the “company”) (http://www.johnsonelectric.com) is one of the world''s largest providers of motors, solenoids, micro-switches, flexible printed circuits and microelectronics with an annual production capacity of over one billion units. JE serves a broad range of industries including automotive, home technologies, industrial equipment, medical devices, personal care, power equipment and power tools. The company has emerged as a leading components provider (motor, sensors and controllers in one module) for the auto industry. JE employs around 36,000 employees spread over 30 facilities globally and has been listed on the Hong Kong Stock Exchange (HSE) since 1984.JE Group has the following operating divisions aligned with the broad markets they serve; i) Automotive Products Group (APG): providing custom motors, actuators, switches, and motion sub-system solutions for all critical automotive motion related functions; ii) Industry Products Group (IPG): providing motion products and customized solutions for various commercial and industrial applications; and iii) Components and Services (C&S): involved in designing and manufacturing a wide range of precision components and also involved in designing and building wide range of prototype and production tooling. It serves as internal supplier to APG and IPG. The company has manufacturing plants located in Asia (Shenzhen, Shanghai, Beihai, Nanjing, Changchun, Chengdu and Yantai in China and Chennai in India), Europe (Poland, Hungary, Switzerland, Italy, Serbia, Israel, UK, Germany and France) and Americas (Vandalia, Springfield, Mexico, Brazil and Argentina). JE is now looking to expand its production operations in Brazil, Mexico, Serbia and India (“the project”) and has invited IFC to consider providing financing to support this expansion. These production facilities support, respectively, JE’s global supply chain in the Americas, Europe and Asia, selling to automotive original equipment manufacturers (OEMs) and other industrial users. IFC is considering a corporate loan of $75 million to the company to strengthen its capital structure for purposes of the project.