· Company will receive R$ 11 million as working capital 
· Company sales will grow 28.4% within one year

The board of Banco Nacional de Desenvolvimento Econômico e Social (BNDES) approved a working capital financing to Têxtil Matec Confecções Ltda., a company located in Franco da Rocha (SP), in the amount of R$ 11 million, under the scope of the Support Program for the Strengthening of the Employment and Income Generation Capacity - PROGEREN. The operation will allow the company to increase its gross operating revenue by 28.4% and hire 39 additional employees, increasing by 10.8% its staff, within a period of one year.

The grace period for the financing is twelve months, with repayment in installments during the following twelve months. In case Matec fulfils its commitments for employee hiring and sales increase, the interests charged by BNDES will be 3.5% p.a. over Long-Term Interest Rate (fixed by the Brazilian Central Bank) (TJLP). In the event that the company fails to fulfill such targets, BNDES will then increase rates to 9% p.a. over TJLP.

The company - Têxtil Matec Confecções is a limited liability company, incorporated in 1990, engaged in the production of synthetic fabrics, mainly directed to the footwear industry. In 2003, it started also to produce polyurethane fabrics (synthetic leathers), materials used in the production of sneakers and miscellaneous footwear, and in some other segments, such as the automotive industry, sporting clothing, wardrobe, furniture, etc., becoming one of the leading suppliers to the footwear components' sector.