Apr 12, 2012

• Resources will go to the company's engineering program and social projects in Curitiba and São José dos Pinhais

The board of directors of the BNDES approved R$ 373.5 million in financing to Renault Brazil for the company’s three-year engineering program and some social initiatives. The BNDES’ resources, which represent 67% of the total investments, are from the BNDES’ Engineering Support Program (BNDES Proengenharia) and Investment Maintenance Program (BNDES PSI), under its Innovation sub-program.

The project foresees the development of new products; adaptation of vehicles to climate conditions and Brazilian roads and highways; investment in design; modification of the utility-vehicle factory, fruit of an alliance with Nissan; and development of local suppliers, with an increase in the number of vehicles manufactured in Brazil.

With the financing, Renault will also strengthen social projects that have been developed in the region of Curitiba and São José dos Pinhais Pinhais (state of Paraná) - where the automaker is installed - such as the Borda Viva Association, Estação da Sabedoria Library and Árvore dos Sapatos preschool, among others.

The company – Renault was founded in 1898. Nationalized in 1945, it was privatized in the 1990s. In 1999, it established an alliance with the Japanese firm, Nissan. Together, they hold about 10% of the world market. In Brazil, where it is the fifth largest automaker, its operations began in 1998, when it opened the plant to produce vehicles in São José dos Pinhais. A year later, the company incorporated an engine production plant and, in 2001, a utility-vehicle factory.