The Fondo Sviluppo Export, created by SACE and managed by Amundi SGR, has subscribed a € 12,5 million bond issued by Camozzi. The six-year bond is fully guaranteed by SACE and subscribed by the Fondo Sviluppo Export utilizing resources provided by SACE and by the European Investment Bank. Camozzi will utilize the proceeds from the issue to support its development in international markets, especially Ukraine, United States, China, and Russia.
SIMEST also intends to invest € 4.7 million in two companies located in China near Shanghai specialized in components for automation systems, wholly-owned by the Camozzi group. The investment will also have positive fallout in Italy, generating increased demand for the components produced in the Camozzi plants in northern Italy.
“Growth in international markets is a goal that the group has pursued since its early days in business," declared Lodovico Camozzi, chairman of the Camozzi group. "The support of SACE and the investment by SIMEST in the Chinese companies strengthens us institutionally and financially and enables us to be even more competitive in the international markets. Today we are present with offices in 26 countries and export more than 80% of our sales to 75 countries.”
Camozzi is one of the primary clients of SACE and SIMEST in Lombardy, a region where nearly 6,000 companies are served through their Milan and Brescia offices: over € 3,5 billion in resources were mobilized in 2017 to support the international development of companies in the region.
SACE and Amundi were assisted in this initiative by the firm of Legance Avvocati Associati and Camozzi by the firm of Craca Di Carlo Guffanti Pisapia Tatozzi & Associati.
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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 transaction 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.
Together, SACE and SIMEST form the export and internationalization hub of the CDP Group