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SACE has initiated two fresh operations to support Italian excellence in the path international expansion
SACE, CDP Group’s export and internationalization hub together with SIMEST, has signed two new operations in favor of Italian company growth.
In first operation, Serioplast, a leader in the production of rigid plastic bottles, thanks to SACE will be able to strengthen its production capacity. CDP Group guaranteed a €30 million loan from Crèdit Agricole Cariparma as agent bank and Banca Popolare di Milano S.p.A (Banco BPM Group). The credit line is intended to support the Bergamo, Italy-based business' 2016-2020 investment plan, focusing on the acquisition of new equipment and production technology to meet growing international demand and consolidate its presence in international markets, especially in Russia.
The operation consolidates the long-term partnership between Serioplast and CDP, which through the hub of export and internationalization has supported the company's development plans on several occasions. In particular, SACE has already secured three loans to support the growth in foreign markets, while SIMEST has favored initiatives in Turkey, Russia and South Africa. SACE's funding also confirms Serioplast’s international vocation, which has been on the market for over 40 years with 20 factories, 8 in Italy and the remaining 12 abroad.
The second initiative is in favor of Leonardo Srl, a construction-planning company from Pisa, Italy. SACE’s €1.2 million loan guarantee supports the management contract for the Japoma-Douala sports complex in Cameroon by the Tuscan enterprise. The €7-million work order is part of the largest project for the construction of a soccer stadium that will accommodate about 50,000 spectators and a multifunctional sports facility, complete with an Olympic pool, volleyball courts and tennis and a National Football Academy building.
The complex’s inauguration is slated for the upcoming Africa Cup 2019, hosted just by Cameroon.