Lecico

completed

The Lecico Group (Lecico, the Group or the company) is a leading manufacturer of sanitary ware and ceramic tiles in the Middle East, headquartered in Alexandria, Egypt and has a long track record in the sanitary ware and ceramic tile business. The Group produces European quality products by using state-of-the-art technology, and enjoys a strong relationship with Sanitec, one of the major global sanitary ware manufacturers and an indirect shareholder of Lecico Egypt. The Group has contacted IFC for financing of plans to expand the production capacity in Egypt and to refinance debt of its majority-owned subsidiary in Lebanon. The proposed IFC investment consists of a corporate loan for the expansion of Lecico’s sanitary ware capacity in Egypt and debt refinancing for its operations in Lebanon. The proposed investment will help Lecico address sanitary ware export growth opportunities and reduce production costs in order to make it more competitive.