SACE and SIMEST, companies that form the CDP Group's export and internationalisation hub, will be supporting the growth of Pelliconi in the Indian market.
The CEOs of the two companies ‑ Alessandro Decio and Andrea Novelli, respectively ‑ signed a Memorandum of Understanding in Mumbai with Pelliconi CEO, Marco Checchi. The signing took place on the occasion of the Italian mission to India led by Undersecretary of the Ministry of Economic Development Ivan Scalfarotto.
The memorandum provides for the possibility of SIMEST supporting Pelliconi in the acquisition of stakes in local companies ‑ aimed at extending production in the Indian market, thus strengthening its position with respect to foreign competitors by reducing costs and shipment times ‑ and SACE providing guarantees on bank loans to finance the acquisitions.
Pelliconi, a company based in Ozzano nell'Emilia (province of Bologna) whose core business is the manufacture and sale of crown caps of its own invention, is already a partner of SIMEST, which since 2015 has held 49% of the capital of Pelliconi Asia Pacific Srl, a holding company established to support initiatives in Asia. The first initiative took shape last year with the inauguration of a factory in Suzhou, China.
Contact details for the media:
SIMEST | Ufficio Stampa
Tel: +39 06 68635.777
SACE | Ufficio Stampa
Tel: +39 06 6736.888
Together, SACE and SIMEST form the export and internationalisation hub of the CDP Group, operating in India through a representative office in Mumbai.
SACE, a wholly-owned subsidiary of Cassa Depositi e Prestiti, offers export credit services, credit insurance, protection of foreign investments, financial guarantees, bonding, and factoring services. With €87 billion in transactions insured in 198 countries, it supports the competitiveness of companies in Italy and abroad, ensuring more stable cash flows and transforming the default risk of companies into development opportunities.
SIMEST, 76%-owned by SACE, with leading Italian banks and trade associations among its other investors, supports companies throughout their entire international development process, providing soft loans for internationalisation, export credit support and equity investments.