EDC provides USD 7 million in financing to Argentina's Secco



    OTTAWA, June 11 /CNW Telbec/ - 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.




For further information:

For further information: Media: Phil Taylor, Export Development Canada,
(613) 598-2904, Blackberry: ptaylor@edc.ca


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