The export and internationalisation hub of the CDP Group increased its support to the international development plans of the Vicenza-based construction company ICM (Maltauro Group). SIMEST will support the ICM Group by contributing to the increase of capital of the British subsidiary Delma Engineering UK.
ICM Group's plan includes focussing significantly on foreign markets and the British subsidiary will ensure the uniform and consistent management of the activities carried out abroad. SIMEST's 8.5 million contribution (45% stake) will back the investment plan involving the purchase of the machinery and equipment to carry out international projects and support the expansion into new markets.
The ICM Group is among the top 10 Italian companies that operate in the infrastructure and civil and industrial construction sector; it is also involved in prefabrication, development and management of environmental solutions (mainly water purification and environmental reclamation) and in the extraction and transformation of basalt. It is also a client of SACE, which supported its expansion abroad, in particular in Africa and the Middle East.
In 2016, the Group's production was worth 340 million euros, with net profits of 3 million euros, and employed approximately 650 people.
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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.