Cefla Capital Services S.p.A.

MIGA issued a guarantee of €1.6 million ($1.97 million) to Cefla Capital Services S.p.A. of Italy for its €1.8 million ($2.2 million) equity investment in Cefla Capital Services do Brasil Ltda. of Brazil. The guarantee is for a period of 15 years and provides coverage against the risks of transfer restriction, expropriation, and war and civil disturbance.

The project will support the acquisition of additional existing shares in, and the expansion of, two of Cefla Capital Services S.p.A. subsidiaries called IGM Maquinas e Equipamentos Ldta., and Ariam Metalurgica Ltda. These subsidiaries produce fixtures, such as shelves, lighting, and cabinets, for displaying merchandise, as well as machinery and finishing systems for wood-based, plastic, and non-ferrous products. The main objectives of the expansion are to increase Brazil’s manufacturing capacity to satisfy growing domestic and South America markets, and to implement marketing and sales strategies in congruence with other international Cefla operations.

The expansion of the project is expected to increase the procurement of local goods and services and will also create direct and indirect jobs.