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        MICHELIN BRASIL

        Signature(s)

        Amount
        € 40,000,000
        Countries
        Sector(s)
        Brazil : € 40,000,000
        Industry : € 40,000,000
        Signature date(s)
        20/09/2006 : € 40,000,000

        Summary sheet

        Release date
        4 May 2005
        Status
        Reference
        Signed | 20/09/2006
        20040564
        Project name
        Promoter - financial intermediary
        Michelin - Tyre and Steel Cord for Tyres Production Plants
        Michelin
        Proposed EIB finance (Approximate amount)
        Total cost (Approximate amount)
        EUR 40 million.
        EUR 82 million.
        Location
        Sector(s)
        Description
        Objectives

        Capacity increases at two existing production plants of Michelin Brasil, one for truck and bus tyres and one for steel wires and steel cord for tyre production.

        To strengthen the promoter’s presence in the world tyre market and improve its global competitiveness while promoting economic growth in Brasil.

        Environmental aspects
        Procurement

        The Bank’s appraisal will assess the state of the environmental approval procedure and the action required by the competent authorities, as well as the environmental features of the project.

        N.A.

        Comments

        Automotive industry.

        Disclaimer

        Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
        They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

        General enquiries and comments

        The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
        Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
        Alternatively, the EIB can be contacted through its external offices.
        Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

        Media enquiries

        Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

        Complaints mechanism

        Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

        Zero tolerance against fraud and corruption

        The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

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