SIMEST, the company that with SACE forms the export and internationalisation hub of the CDP Group, acquired 45% of the new Italian company founded by the Naples-based Marnavi Group, a company that has been operating in the maritime shipping industry since 1910.
SIMEST's 4.5-million euro stake financed a capital increase that mobilized resources for a total of 28 million euros.
The new resources will be used to start an investment plan that over the next two years will allow to strengthen and renew Marnavi's fleet, especially for the transport of petrochemicals, which accounts for 60% of the Group's activity. Specifically, they will serve to build “parcel chemical vessels”, next generation vessels with reduced greenhouse gas emissions and fuel consumption, which can access ports in protected areas. The plan will increase Marnavi's competitiveness on the international market, especially in the Mediterranean and in Northern Europe, and further improve its technical and commercial partnerships with some of the major international petrol companies.
The Marnavi Group is also a client of SACE, which supported its expansion on the Turkish and Kazakh markets. It is based in Naples and has offices in Milan, London, Mumbai, the Netherlands and Rio de Janeiro. It is formed by 20 companies and owns 40 ships that transport petrochemicals and food products, as well as operating vessels in the tug, offshore, and anti-pollution sectors.
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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 internationalization 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.