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CDP Group: SIMEST supports the expansion of the United Brands Company of Vicenza in China

Acquisition of 49% of the local subsidiary to support the company’s international development

CDP Group: SIMEST supports the expansion of the United Brands Company of Vicenza in China
14 November 2017

SIMEST, a company that together with SACE forms the CDP Group’s export and internationalisation hub, is supporting the expansion in China of the United Brands Company of Vicenza, a leader in the manufacture and sale of footwear under license for the Carrera, Sergio Tacchini, Enrico Coveri, Starters and Gas brands. An agreement was signed for the acquisition of 49% of the newly created company in the amount of about €0.45 million. The accord will support the implementation of the company's international expansion plan, which provides for the establishment of a service company focusing on product development and design, materials research, and quality control.

The company is also a customer of SACE, which has provided a financial payment guarantee of €500 thousand for expansion in international markets.

In 2016, UBC had a turnover of €30 million and today employs 40 people. In addition to its Italian plant in the province of Vicenza, it has commercial branches in China, France, Germany and Hungary.

 

 

 

 

 

Contact details for the media:

Tel: +39 06 68635.777

ufficio.stampa@simest.it

Twitter: @SIMEST_IT

 

 

 

 

SIMEST is part of the CDP Group, 76% owned by SACE, with leading Italian banks and trade associations among its other investors. SIMEST and SACE form the export and internationalisation hub of the CDP Group, which offers the entire range of financial instruments to support Italian companies interested in competing and expanding internationally. In particular, SIMEST supports companies throughout their entire international development process, providing soft loans for internationalisation, export credit support and equity investments

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