7 million euros with a SACE guarantee for the historic brand from Padua
In 1910, in a young Italy, which had been united for less than forty years, an even younger blacksmith, Giovanni Carraro, built a multifunctional agricultural machine. The device combined the capabilities of a plough, tiller, seeder, harrow and roller in a single machine. In a short time his small workshop was transformed into an large industrial operation. In 1960, the youngest of Giovanni's six children inherited his father's entrepreneurial vision and founded Antonio Carraro SPA. Now, the Padua-based company is a world leader and a perfect example of Made in Italy excellence in the agricultural machinery sector, with the production of the more than 80 models that make up a range recognised by agricultural operators for their reliability, specialisation, attention to design and comfort.
In 2019, with a turnover of around 100 million euros, the company exported 65% of its production to 42 countries around the world, thanks also to an international network of around 600 importers and retailers, with over 450 employees in its headquarters and commercial branches in Australia, Spain, France and Turkey.
Cassa Depositi e Prestiti has decided to support this Italian success story with a loan of 7 million euros, with a duration of 6 years, guaranteed by SACE through the Italian Guarantee, the Liquidity Decree scheme designed to support Italian companies affected by the Covid-19 emergency.
The new funds will be used to support the four-year investment plan for the consolidation and growth in Italy of the company which, since the 1970s, has been the undisputed leader in the compact tractor segment rankings in Italy and among one of Europe’s leaders.
This commitment confirms CDP's work to support Made in Italy and in particular, the excellence that sees constant innovation and highly specialised products as a USP and something to take pride in.