Retired Ticona Chief Executive Officer Edward MuÃ±oz has joined a newly formed investment banking firm that will help plastics processors expand into emerging countries.
MuÃ±oz's partner is his brother George, who served four years in the Clinton administration as CEO of federal-lending company Overseas Private Investment Corp. George MuÃ±oz also served four years as chief financial officer of the Treasury Department.
Arlington, Va.-based MuÃ±oz Group will assist midsize processors in gaining federal loans to support growth in many regions of the world, including developing nations in Latin America and Asia, said George MuÃ±oz in a July 11 telephone interview. OPIC and other agencies provide those loans, in areas of the world where private banks are less prone to loan money, he said.
About 145 countries are defined as developing nations and qualify for federal assistance for private businesses, MuÃ±oz said.
``What we offer is access to capital,'' George MuÃ±oz said. ``In order to compete as they see their margins go down, plastics firms need to become more international. It carries with it political and economic risks that many companies are not accustomed to, and we're well-equipped to help guide them.''
The company also will help firms once they open plants in those emerging regions. Recently, MuÃ±oz helped a company recoup its investment in Mexico after a large project failed, he said. The firm also is working with an unspecified U.S. company seeking to purchase a German processor, he said.
Edward MuÃ±oz, also a board member of Celanese AG, retired from Ticona on Dec. 31. MuÃ±oz Group also includes Ed Rivera, co-founder of plastics design-collaboration dot-com Conferos Inc. and a former executive with Nypro Inc.