Rome, 19 October 2017 - SIMEST, a company that together with SACE forms the CDP Group's export and internationalisation hub, is supporting the expansion in the Middle East of Cunial Antonio Spa, whose main subsidiary is Industrie Cotto Possagno of Treviso, a leader in the production of terracotta roofing and flooring materials.
An agreement was signed for SIMEST to acquire 12% of the Israeli company Artile Roof Ltd for about €0.9 million. The Venture Capital Fund will also invest, bringing the overall stake to 21%.
With a market share of over 60%, Artile Roof is Israel's leading company in the production of clay roofing materials. The manufacturing plant can produce over 20 million tiles a year.
Industrie Cotto Possagno was created in the late 1990s and in the past has also been a customer of SACE. It produces roofing tiles for the building industry, with specific know-how in the production and marketing of terracotta roofing and flooring, both for exteriors and interiors. In Italy, it boasts seven manufacturing plants in the Veneto and Marche regions.
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SIMEST is part of the CDP Group, 76% controlled by SACE and invested in by leading Italian banks and business associations. SIMEST and SACE form the export and internationalisation hub of the CDP Group, which offers all the 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.