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Sace guarantees a 25 million-euro loan to Eldor Corp. for a new plant in Virginia
CDP Group maintains its leadership in promoting the development of Italian companies in foreign markets, due to the joint effort of Sace and Cariparma Crédit Agricole, to extend a 25 million euro loan to Como, Italy-based Eldor Corp., a noted company working in the automative sector since 1972.
The loan, secured 50% by Sace, will allow Eldor to continue its process of expansion abroad. The funds will be used to supporting the opening of a new $75 million manufacturing plant in Botetourt, Virginia (USA), which will become an important garrison for the markets of the NAFTA (USA, Canada and Mexico), where the demand for automotive products is growing at a rabid pace.
With more than 40 years of history behind it, Eldor represents Italian excellence in the field of electronics. Leader in the design and production of ignition systems, engine control units and systems for hybrid and electric vehicles, Eldor collaborates with leading car manufacturers worldwide for the creation of cars with low emissions and contributes to the emergence of new forms of transport smart and sustainable.
With this, CDP Group affirms its commitment to the promotion of the growth of Italian companies and the enhancement of environmental sustainability issues, following the path marked by its Industrial Plan 2016-2020.