CDP Group Promotes Italian Aeronautical Industry in Brazil

Simest invests 1.2 million euros for the overseas growth of Magnaghi, leader in the design of aircraft hydraulic systems

Rome, January 5, 2017

Simest, CDP Group subsidiary promoting the international expansion of Italian enterprises, supports the development of Magnaghi Group, a company representing Italian excellence in the design of the landing gear and hydraulic systems for the aviation industry.

Already a shareholder of the Brazilian subsidiary of Magnaghi Group, Magnaghi Aereonautica do Brasil Participacoes, Simest has subscribed to a capital increase for an investment of 1.2 million euros, reaching a 40% ownership stake in the company.

Founded in 1932, Naples-based Magnaghi Group develops and manufactures a wide range of hydraulic devices such as systems for helicopters, and airplane landing gear devices. With the support of the CDP Group, Magnaghi will sustain its growth in Brazil, allowing the for the creation of an important production hub for the South American market. The transaction will also generate positive effects on the Italian market, due to the interaction of contacts within the companies.

This operation reaffirms CDP’s dedication to the growth of Italian companies abroad, as a result of Sace and Simest who represent a single door for internationalization, in accordance with CDP’s 2016-2020 Business Plan.