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Polslovni sistem CIMOS TMD Automobilska industrija d.o.o.
Environmental & Social Review Summary

This Environmental and Social Review Summary is prepared and distributed in advance of the IFC Board of Directors’ consideration of the proposed transaction. Its purpose is to enhance the transparency of IFC’s activities, and this document should not be construed as presuming the outcome of the Board of Director’s decision. Board dates are estimates only.
Any documentation which is attached to this Environmental and Social Review Summary has been prepared by the project sponsor and authorization has been given for public release. IFC has reviewed this documentation and considers that it is of adequate quality to be released to the public but does not endorse the content.
Project number 26693
Country
Bosnia and Herzegovina
RegionEurope and Central Asia
SectorMotor Vehicle Parts
Department
Company nameCimos Bosnia
Environmental category:B
StatusActive
Date ESRS disclosedMay 8, 2008
Last Updated DateOctober 31, 2008
Previous EventsInvested: August 7, 2008
Signed: June 18, 2008
Approved: June 16, 2008
View Summary of Proposed Investment (SPI), click here

OverviewCategory &

Applicable Standards
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& Mitigation
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Engagements
Client's

Documentation

Overview of IFC's scope of review
IFC’s review included meetings with Cimos dd. Management in Koper (Slovenia) headquarters, where Cimos`s general approach to project design and management of environmental and social risk was discussed, followed by a visit to Cimos`s production facilities in Koper and Senozece (Slovenia), Gradacac (Bosnia), Kikinda, Secanj and Jasa Tomic (Serbia) and Roc and Buzet (Croatia). In addition to these facilities IFC has subsequently visited additional Cimos production facilities in Bosnia at Novi Travnik, Zenica and Srebrenica.
Project description
Cimos Automotive Industry (Cimos or the company), headquartered in Koper, Slovenia, is a medium sized automotive components manufacturer, mainly supplying Western Europe. It has subsidiaries in 8 countries, including Bosnia & Herzegovina, Serbia and Croatia.

Cimos has approached IFC for a loan to help finance a 4-year (2007-2010) investment program for its automotive components business in Bosnia & Herzegovina (the program). The program entails installing new machinery (including metal injection manufacturing technology “lost molds” and machining equipment) and a ferrous foundry/casting plant, renovating buildings and infrastructure, and improving efficiency and productivity in Gradacac, Zenica and Novi Travnik plants in Bosnia. The program is estimated to cost approximately $117 million equivalent and IFC has been requested to provide a corporate loan of up to $35 million equivalent.

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