TROJACO TFZ TANGER MA
Status: Completed investmentWhy disclosure?
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In case of questions
In case of questions, please contact us at disclosure@fmo.nl
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
The Makers produces men's clothing, and is owned by the van Gils family. The company has been active since 1948 and were among the first to recognize the importance of the 'fashion look' in traditional and classical men's clothing in The Netherlands. To this very day nearly everyone in the country is familiar with the name van Gils and its association with the fashion industry. After a reorganization The Makers B.V. was established by three van Gils brothers in 1992. The main production company of The Makers is FMO client Trojaco TFZ SA, in Morocco.
What is our funding objective?
The investment is a EUR1.5 mln senior loan provided locally in Morocco to Trojaco to support the mandatory relocation of the facilities to another free zone, an area that offers tax advantages to businesses. The loan will also be used to take advantage of the opportunity to modernize and expand their manufacturing facilities.
Why do we fund this investment?
This investment allows FMO to support very experienced Dutch entrepreneurs in an emerging market, as well as support manufacturing in Morocco and Dutch management on the ground in Morocco. In addition to the funding, FMO will be able to assist Trojaco with bringing its new production facility to compliance with the highest environmental and social standards, which is increasingly important in the fashion industry. This investment will also employ 50 new people, in addition to the 1,200 current employees, of which 98% are women.
- Region
- Africa
- Country
- Morocco
- Sector
- Infrastructure, Manufacturing and Services
- Effective date
- 6/26/2014
- End date
- 12/31/2021
- Total FMO financing
- EUR 1.50 MLN
- Funding
- Fund Emerging Markets
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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+