Simest joins projects of six Italian companies in China, India, Malaysia, USA and Turkey
Simest signed agreements to invested 12 million euros in a series of stake acquisitions of foreign entities with the aim of promoting the internationalization of Italian companies on six partners of China markets, India, Malaysia, the US and Turkey, supporting competitiveness and the volume of business.
The acquisitions concern companies operating in various market sectors: from steel to geothermal, from automotive to digital. Below is a list of the transactions:
• Simest has subscribed for 2.8 million euros of the share capital increase in Cogne Hong Kong, a Chinese company that is part of Cogne Acciai Group of Aosta Special, a reference point in the Italian and European steel sector. With this operation, Simest will support the increase of stainless steel bars and rods for production of internal combustion engine valves.
• Olci Engineering India is the new entity established by Simest and Olci Engineering of Turin. The Simest commitment in this transaction is approximately 600,000 euros and is part of Olci’s institutional and international development. With this support, Olci Engineering India may manage the industrial factory where it intends to develop the whole chain of production lines for the local automotive market.
• Simest acquired a 16% share of Finnord Suzhou Auto Parts, made up of the Mechanics Finnord Luino (Varese), for approximately 500 thousand euros. The core business is the production and marketing of high-precision components made from injection molded plastic and plastic / metal, used in gearboxes for the automotive industry.
Other market segments:
• A 4.2 million euro investment in a share capital of Geo Investment Holding Inc, a subsidiary Exergy S.p.A., since 2015, partly by Simest. The investment objective is to support the construction of a geothermal power plant in Malaysia. The company Exergy S.p.A. is in fact a world leader in the development, design and construction of plants for the production of electricity from renewable sources, including geothermal energy.
• Simest signed an agreement to purchase 29% of Turkey Serioplast’s share capital. The company, formed by Serioplast of Bergamo, will be active in the production of plastic bottles, directed especially at Unilever.
• For 1.2 million Simest acquired 49% of Doxee USA, subsidiary of Doxee S.p.A., a company that has been operating for 15 years in the ICT industry specialized in cloud management of the dematerialization of document processes and the entire communication cycle. This acquisition is intended to enhance the presence of Doxee in the American market, particularly receptive to the business of digital technology.
These operations testify to the role of the CDP Group in the international expansion of businesses realized in particular through the support of Simest entrepreneurs ready to explore the possibilities offered by foreign markets.