The CDP Group company signed two agreements for the international growth of Italian companies active in the automotive and industrial building
SIMEST continues in its commitment to the promotion of Made in Italy throughout the world.
The company, together with SACE is CDP Group’s export and internationalization hub, has signed new deals to help two Italian companies expand abroad.
The first concerns support for Proma do Brasil, a subsidiary of automotive sector leader Proma Group from Caserta in Italy’s southern Campania region.
SIMEST's intervention will be crucial to cover a large investment program in Brazil, including the construction of a new facility in the province of Juatuba - located in the state of Mina Gerais in Brazil’s southeast - which is indispensable to respond readily and efficiently to the growing needs of market. Promesa Group, a historic customer of SIMEST and SACE, operates in 23 manufacturing plants in eight countries and three continents. The company is active in the cold stamping and assembly of sheet metal parts for vehicles. Among its major customers are FCA, GM, Renault, Sevel, and Maserati. It also counts system suppliers such as Magneti Marelli, Johnson Controls, and Lear and customers.
The second operation concerns strengthening Faresin Building SpA, the first Italian manufacturer of industrialized systems and fifth in the world. In a capital increase, SIMEST agreed to buy 49% of the Breganze, Italy-based companies’ Austrialian business for €1.5 million in an effort increase Faresin's market share through two aims: enhancing the Australian subsidiary's ability to acquire important local contracts and the Group's entry into the infrastructure sector.
Faresin Building is present in 68 countries through its network of distributors and commercial branches. Not surprisingly, the company has already turned to SIMEST for opening overseas offices - including one in St. Petersburg, Russia- and strengthening its business in Nigeria.