Announcement of Investment in Industria Reunidas, S.A. in Peru on September 29, 1959

INTERNATIONAL FINANCE CORPORATION 818 H STREET, N.W., WASHINGTON 25, 0. C. TELEPHONE: EXECUTIVE 3-6360 i) 'I i,\ \'\\ 'I \\ PRESS REIEASE NO• 36 \~ ~' \~\ For Release ·SUBJECT: Investment in A.M. Newspapers Industria Relmidas, S.A.• Tuesday, September 29, 1959 in Peru The International Finance Corporation (IFC) announced today a camnit- ment to invest U.S.$250,000 in Industria Reunidas, S.A., (INRESA), a Peruvian oanpany, to hell? finance expansion and diversification or ,.manufacturing operations. INF.EBA is undertaking a major expansion or its facilities to manufacture household appliances. A~ present, virtually all applicances are ~ported. •• All of INRESA 1s products will be tor the domestic market • INRESA was organized in 1941 and has been engaged in the manufacture or cans, nails and enamel ware. In recent years n,!P~1A 's principal product --"'--/) has been cans used for packaging t\lD&. and other fish, edible oils, pairits, and foods. The compa.nf is installing a new automatic· can prdduction line to supplement its present racilities. Total cost ot the expansion is about $540,000. These funds will be provided by IFC 1s inyestment, by additional share capital and by funds l'1 generated fran the q·~pany 's operations. IFC 'a inveatment,i;of $250,000 will be in u.s. dollar Notes maturing by l(, ,, 1966 and bearing interest at 6j and additional interest, payable in Peruvian sol.es, contingent on earnings. In add1 tion, IFC will receive a right to subscribe to shares ot the ccmpany • • IFC 1s commitmentnis subject to ccapletion of the necessary legal formalities.