SEF Implementos Agricolas Centroamericanos, S.A. de C.V.

completed

Summary Of Project Information (SPI)Project NameEl Salvador-IMACASA     RegionLATIN AMERICASectorProject No008163Projected Board DateMay 9, 1997Company NameIMPLEMENTOS AGRICOLAS CENTROAMERICANOS, S.A. DE C.V.Technical Partner and/or Major Shareholders The Company is owned by over 20 shareholders, mostly Salvadorans.     Project Cost Including proposed IFC investment US$4.4 millionLocation of project and Description of site The project is located in the Santa Lucia industrial park, on the outskirts of the city of Santa Ana. The site consists of 10,000 square meters of covered industrial area.Description of Company and Purpose of Project IMACASA is among the largest manufacturers of agricultural hand tools in Central America, with leading market shares for products such as machetes, axes, picks and shovels. The project is designed to strengthen the Company’s competitive position by modernizing its manufacturing facilities, by providing working capital, and by restructuring part of its short-term debt. IMACASA is a well managed company that is undertaking a sound project with important economic and social benefits for the country. IFC’s support for the project will have a positive impact within the Salvadoran business community, which is making a large effort to rebuild the economy. The project will decrease the Company’s operative and financial costs and will strengthen its financial structure, ensuring its long-term international competitiveness. The project also supports IMACASA’s initiatives to be more commercially oriented, and to seek international alliances and new markets to diversity its sales base.Environmental Category and Issues This is a category B project. According to IFC’s environmental review procedure. Key environmental, occupational health and safety issues that were of potential concern during IFC’s environmental review of this project included: air emissions; liquid effluent treatment; solid waste handling and disposal; and employee protection from hot surfaces and aerosols. Air emissions and liquid effluents are not significant. The sponsor has a task force assigned to provide safety training and emergency response capacity. Employees are provided with and required to use personal protective equipment. The project complies with the relevant local environmental regulations and the World Bank environmental guidelines. The sponsor will submit an annual monitoring report to IFC regarding compliance with local environmental laws and regulations and World Bank guidelines.     The is from the Public Information Center.Date SPI sent to PIC April 2, 1997For Additional Information contact: Corporate Relations Unit -telephone: (202) 473-7711facsimile: (202) 676-0365Environmental 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).