Hogan Lovells advises IDB Invest in US$65.5M loan for new recycling plant in Mexico
Press releases
| 10
June
2020
New York and Monterrey, 10 June 2020 – Global law firm Hogan Lovells advised IDB Invest in providing a US$65.5 million loan to Arzyz Metales to finance the construction, equipment, and operation of a new aluminum recycling plant to be located in the northeastern Mexico municipality of Cienega de Flores. The deal closed on 26 May.
Arzyz Metales, a Mexican company that focuses on the manufacturing of aluminum alloys and marketing of non-ferrous metals for different industry sectors such as automotive and energy, intends to use the project to complement its aluminum alloy manufacturing plant near Monterrey and strengthen its raw material processing capacity from recycled aluminum.
The Hogan Lovells team was led by partner Ricardo S. Martínez in New York and partner René Arce Lozano in Monterrey, with assistance from international legal associate Antonio de la Esperanza (Washington DC), senior associate Luis Dávalos (Monterrey) and associate Dinorah Pensado Michel (Monterrey).