(OTTAWA) – June 11, 2009 – Export Development Canada (EDC) today announced that it has provided USD 7 million in financing to Industrias Juan Secco S.A. (Secco) of Argentina for the purchase of power generators from General Electric.
“EDC’s commercial solution for Secco will help to expand our presence in Argentina, an important market for EDC, and help build links there with Canadian supply and expertise in the energy sector,” said Eric Siegel, President and CEO of EDC.
The transaction will support the sale of 17 JGS 420 GS-S.L engines that will be used for projects in Secco’s power generation unit, largely supporting the development of remote oil and gas projects. The engines are powerful mobile generators that operate on natural gas.
GE Canada employs more than 9000 Canadians.
Secco is an Argentinean firm founded in 1936 as a metallurgical service company. At present, after decades of progress, its main activities are focused in Power Generation, Gas Compression and Rental Equipment. Its headquarters are located in Rosario (the 2nd major city of Argentina) and have operations in 19 states of the country. It employs over 1,200 people. Secco’s activities reach several industries, such as Oil & Gas, Foods and Beverage, Automobile, Power Distributors, Leather, Wood, Retail, and State-Owned Companies.
EDC is Canada’s export credit agency, offering innovative commercial solutions to help Canadian exporters and investors expand their international business. EDC’s knowledge and partnerships are used by more than 8,300 Canadian companies and their global customers in up to 200 markets worldwide each year. EDC is financially self-sustaining, a recognized leader in financial reporting and economic analysis, and has been recognized as one of Canada’s Top 100 Employers for eight consecutive years.
Phil Taylor
Export Development Canada
Tel.: (613) 598-2904
Blackberry: ptaylor@edc.ca
