|
|
 |
 |
|
Summary of Project Information (SPI) |
|
| |
| Project number | 7872 |
| Project name | Autokola NH, a.s. Press Project |
| Country | Czech Republic |
| Sector | Plastics & Rubber |
| Department | Global Manufacturing & Services |
| Company name | Hayes Wheels Autokola Nov? Hut, a.s. |
| Environmental category | B |
| Date disclosed | October 10, 1996 |
| Status | Hold |
|
Summary Of Project Information (SPI)
| Project Name | Czech Republic-Autokola Nova Hut a.s. Press Project |
| |
| Region | Europe |
| Sector | Motor Vehicles and Components |
Project No07872
Projected Board DateNovember 22, 1996
Company NameHayes Wheels Autokola Nova Hut, a.s.
Technical Partner and/or Major Shareholders
Hayes Wheels International (HWI), which manufactures and sells a broad product line of quality automotive wheels in the US and Europe, is a 45% shareholder. HWI gives strong technical support to the company.
Nova Hut, one of the three principal steel works in the Czech Republic, owns 55% of the company.
Project Cost Including proposed IFC investment
The project cost, including additional working capital, is US$12 million equivalent. The funding includes a sub-ordinated D loan of US$6 million equivalent for IFC’s account.
Location of project and Description of site
The press project is IFC’s second investment in Autokola. The company is located in Ostrava, eastern Czech Republic. Installation of the press will be within Autokola’s existing buildings and will not involve an extension to the company’s premises.
Description of Company and Purpose of Project
Autokola was established in 1993 by HWI and Nova Hut to manufacture vehicle wheels for the European market in an existing facility in the Nova Hut steel works. The press project is to purchase and refurbish a second stamping press and install it in the existing press shop. The project will double Autokola’s annual production capacity from three million to six million vehicle wheels.
Environmental Category and Issues
This is a category B project according to IFC’s environmental review procedure because a limited number of specific impacts may result from the project which can be avoided by adhering to generally recognized performance standards, guidelines or design criteria. Key environmental and occupational health and safety issues that were of potential concern during IFC’s environmental review of this project include: Autokola’s progress with the environmental compliance and remediation program agreed to for the first investment, contamination to the soil and groundwater at the site for the second stamping press and noise. Remediation action at the site of the second press will be included into the remediation program being implemented under the first IFC loan. This program has been proceeding according to schedule.
The is Environmental Review Summary is expected to be available October 11, 1996 from the Public Information Center.
| |
| Date SPI sent to PIC | October 10, 1996 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 676-0365 |
|
| Environmental documents for this project are available at http://www.ifc.org/projects and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html). |
|
|
|