SIMEST, a company that together with SACE forms the CDP Group’s export and internationalisation hub, has acquired 17% of the Brazilian subsidiary of Bonfiglioli Riduttori through a capital increase, with an investment of €4 million. The acquisition will enable the Group, which has been present for a number of years in the Brazilian market with a full range of gearmotors and drives, to upgrade the existing plant near San Paolo primarily in order to expand the assembly of reducers and track drive wheel gear motors and travel drives, as well as the production of gearboxes and gearmotors for wind turbines, products in which the company is a recognised world leader.
The Bonfiglioli Group, founded in 1956 at Calderara di Reno in the province of Bologna, is specialised in the design, manufacture and sale of precision mechanical components. In 2016, it generated revenues of €789 million, employing 3,710 people. It is a group with a strong international vocation: it has 14 manufacturing plants –four in Italy, three in India, two in Germany, and one each in China, Brazil, Slovakia, the United States and Vietnam ‑ and an additional 22 direct commercial offices in 16 countries (Canada, France, England, Germany, Turkey, United States, Brazil, Spain, South Africa, India, Singapore, Vietnam, Australia, New Zealand, Slovakia and China) active in the development, marketing, final assembly, sale and pre- and after-sale assistance of Group products.
The Bonfiglioli Group is a long-standing customer of SIMEST, which has supported its international growth by taking stakes in the manufacturing companies in India, Vietnam and China.
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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.