Rome, february 6, 2017 - SIMEST, the company of Cassa depositi e prestiti Group that together with SACE constitute the Italian internationalisation and export hub, supports again the development of CLN Group in Latin America, one of the main European industrial players in the automotive sector.
After the previous collaboration in Brazil, SIMEST accompanies the Piedmontese company in Argentina through a capital increase of 3 million euros in the subsidiary MA Automotive Argentina S.A. (about 48%).
The new resources will contribute to the empowering of printing activities for car bodies in order to respond to global clients needs.
Ranked within SACE’s clients, CLN Group was founded in 1948. The Group has divisions and subsidiaries specialized in stamping, rollforming and assembling of metal components for the automotive market; in the engineering and production of steel wheels for passenger cars and light commercial vehicles; in the processing and distribution of steel products.
The Group operates in 15 countries in four different continents with 45 production sites that employ more than 8,200 people, generating a consolidated turnover of 1.6 million euros. The main clients include automobile producers such as FCA Group, PSA, Renault-Nissan-Mitsubishi, Daimler and BMW.
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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.