SYNTECH INTERNATIONAL B.V.
Status: Completed investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Syntech International B.V. is part of the Syntech Group. The group - more commonly referred to as Royal Kusters Engeneering - is based in Venlo and dates back to 1911. It has a long history in recycling equipment. From that is has evolved into a manufacturer of custom-desigined bank note disintegration systems, coin crushing sytems and high security media destruction systems. The beneficiary of the FOM funds, Kusters Engeneering India, started as a service provider to the Reserve Bank of India, where the company is still repsonsible for the maintenance of the disintegration machines. Today, the company is active in banking automation equipment.
What is our funding objective?
The funding objective is the acquisition and refburbishment of a new office in India and the finance of working capital requirements. This will enable Kusters Engineering India to subscribe for large banking automation tenders and expand its turnover and product range.
Why do we fund this investment?
Long term funding for foreign subsidiaries of Dutch SMEs is hard to obtain. Commercial banks are not willing to finance the activities in India and local Indian banks do not want to provide long term funding. FMO therefore fills a funding gap, supporting this company in its growth ambitions.
More investments
| Date | Total FMO financing |
|---|---|
| 9/5/2017 | EUR 1.00 MLN |
- Region
- Asia
- Country
- India
- Sector
- Infrastructure, Manufacturing and Services
- Effective date
- 3/24/2014
- End date
- 12/23/2019
- Total FMO financing
- EUR 2.00 MLN
- Funding
- Fund Emerging Markets
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B