Italian automotive sector travels world thanks to Simest

CDP Group helps automotive component companies Tiberina and Olsa growth abroad

 

Rome, 1 December 2016

New objectives for the Italian automotive sector have been achieved due to support from CDP Group’s SIMEST. CDP has decided to enlarge its stake in the Tiberina Group and Olsa foreign subsidiaries, operating in the field of automotive components.

Tiberina, founded in 1999 in Perugia, is among the top players in the production of systems and components in the "body in white" (assembly before the car painting). Historically the Tiberinia was formed as a result of the creation of new companies and through the acquisition of entities already operating in the Italian and foreign markets.

Tiberina in 2010 founded a new company in Brazil, the Tiberina Automitive MG, which among its main customers is Fiat Automobiles Chrysler / Jeep and Iveco LA. Simest has decided to increase its participation in the Brazilian subsidiary of Tiberina, funding a capital increase of 2.5 million euros, equivalent to 29% of the share capital. With this transaction, the company will be able to increase its production capacity and process the large supply of components of the new Fiat Palio.

Furthermore, CDP Group is focusing on a second Italian automotive company, Olsa.  Based near Turin in Rivoli, located in the northern Piedmont region, it opened its doors in 1947. The Olsa Group is distinguished by the design and production of lights for cars. It sells its products to major automakers worldwide, such as BMW, Renault, Fiat Chrysler Automobiles, Ferrari, Volkswagen, and Porsche. The company, which counts 6 factories in Italy, Poland, Brazil, China and Mexico, over the years has received support from CDP’s SACE, which guaranteed loans totaling 15 million euros for foreign growth.

 Simest has already strengthened its Olsa Group support through 2 million euros in funding for the acquisition of 19% of the Olsa Sistemas de Illuminacion Automotriz, the Mexican subsidiary of the Piedmont-based group. The company will thus enhance relations with customers already in the portfolio and increase production capacity to meet the demands of the US market.

 CDP Group renews its commitment to supporting the growth of Italian enterprises. With Sace and Simest, one door for internationalization, it promotes the growth of companies in foreign markets and the diffusion of Italian products throughout world.