Randoncorp raises BRA500m in IFC loan to boost sustainability initiatives
By Jose Secco - 3rd May 2024
Randoncorp & IFC sign Sustainabity Investment Loan
Brazil - Randoncorp, a Brazilian multinational, based in Caxias do Sul, specialized in manufacturing a range of mobility solutions, has signed a financing agreement for USD100 million (BRA500m) with the International Finance Corporation; the largest global development institution focused on the private sector finance in emerging markets and part of the World Bank Group.
With access to the funds from last February 28, 2024, the loan is scheduled to be invested in sustainable production / manufacturing initiatives in two primary locations: The Randon branded semi-trailer and railway wagon assembly plant in Caxias do Sul and the Motion Control (brakes and braking components) manufacturing facility, also in Caxais do Sul, which operates under the Frasle Mobility brand name.
