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Tiles

Cecrisa receives 16 million dollar loan

Dec 04, 2003
04/12/03 - Cecrisa Revestimentos Ceramicos (Cecrisa), one of Brazil's largest ceramic tile manufacturers and exporters, was recently granted a 16 million dollar loan by DLAMF (Darby Latin American Mezzanine Fund), part of Darby Overseas Investments, a company in turn owned by the US group Franklin Resources.

"We are very pleased with the investment made in Cecrisa," commented Pedro Batalla, director general of Darby and head of DLAMF, "because we have a firm belief in this dynamic Brazilian company. We see outstanding development opportunities both in the domestic market and in exports, particularly in view of the company's competitive prices and excellent product quality."

"Cecrisa is expanding rapidly abroad and for this reason we are extending its sales network in the United States," confirmed Rogerio Sampaio, Chief Executive Officer of Cecrisa. "Last year, exports totalled almost 30 million dollars, about one-third of annual revenues. For this reason too we are honoured to have Darby Overseas Investments as our financial and strategic partner."

Cecrisa Revestimentos Ceramicos, founded in 1966 by Manoel Dillor de Freitas and still owned by the Freitas family, is based in the city of Criciuma, Santa Catarina region.

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