American Plast S.A. Summary Of Project Information (SPI)       Project Name    Argentina: American Plast S.A.      RegionLatin America and the Caribbean   SectorManufacturing   Project No009373   Projected Board DateFebruary 10, 1999   Company NameAmerican Plast S.A.   Technical Partner and/or Major Shareholders    	American Plast produces plastic containers for packaged foods and for the fast food industry in Argentina and also exports to Brazil and other Mercosur countries.  The Company is the largest player in the rigid packaging area, with 1998 sales of US$38 million and assets of US$38 million.  American Plast is 80%-owned by Dixie Toga S.A., the largest packaging company in Brazil with 1997 sales of US$337 million. The rest of American Plasts shares trade on the Buenos Aires Stock Exchange.    Project Cost Including proposed IFC investment    	Up to US$20 million, financed by bank loans and internal cash generation.  IFC will provide a US$10 million Standby loan, to be drawn upon if necessary.  IFC will also subscribe to upto US$0.35 million in warrants exercisable into shares of American Plasts parent company, Dixie Toga S.A.    Location of project and Description of site    	Argentina, Province of Buenos Aires.  The Company''s existing plant is located in Olivos, Province of Buenos Aires, in an industrial area.  The site includes two buildings:  a) the head office with two production areas for injection molding and thermoforming; laboratories, storage and shipping areas; and b) the extrusion and polypaper production area with large storage and warehousing facility.  The total covered area is 12,000 sqm, taking about 80% of the site.  The Companys new site is in an industrial park area in Pablo Nogues, Province of Buenos Aires, 20 kms north from the existing plant.  Total site area is 120,000 sqm, with 10,000 sqm covered area.     Description of Company and Purpose of Project    	American Plast is in the process of undertaking a US$20 million modernization and expansion program that will enable it to strengthen its position in the rigid packaging area and to diversify into other segments of the packaging market.    Environmental Category and Issues    This is an environmental review category B project.  Key environmental, health and safety issues associated with the project include:  land use modification at the proposed new plant site, liquid effluents, hazardous substances, air emissions, solid waste disposal, storage and handling of chemicals, environmental performance of existing facilities, fire safety and emergency preparedness, and employee training.  The sponsor has presented plans to address these issues and demonstrate that the proposed project will comply with applicable governmental and World Bank requirements.  The new facility will be in Pablo Nogues, 20 km from Buenos Aires and it will be located in a large industrial park-type area.  The industrial wastewater generated at the existing facility from the cleaning of floors and blow down from the cooling system is discharged to the municipal sewage system.  A dedicated wastewater treatment facility will be installed at the Pablo Nogues facility.  Air emissions will be controlled by a filter system of suction and conduction through the piping to collect particulates.  American Plast has established a Corrective Action Plan to address the high noise level in some areas at the existing facility. The company has developed emergency and contingency plans in the event of accidents and fire.  The sponsor will establish training programs that will include fire protection, use of fire fighting equipment, housekeeping and hygiene, and general health and safety procedures.  A fire brigade will be formed.    The  is  from the InfoShop.       Date SPI sent to InfoShop     January 7, 1999      This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporations Board of Directors.  It is provided for the purpose of enhancing the transparency of IFCs activities and should not be construed as presuming the outcome of IFC Board consideration.    For Additional Information contact:  Corporate Relations Unit -   telephone: (202) 473-7711   facsimile: (202) 974-4384     L:\SPI\SP9373.DOC   January 7, 1999 10:21 AM  Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).