Rome, 5 April 2017 - SIMEST, a company of the CDP Group’s export and internationalisation hub, is strengthening the position in Nigeria of Faresin Building of Vicenza, the leading Italian manufacturer of industrial building systems and among the top 5 in the world.
Thanks to the funding of around €800 thousand, the company – which already exports to the African country ‑ will be able to participate in major trade fairs in the sector and strengthen the promotional activity performed by its recently opened commercial office in Lagos.
Since 2008 Faresin has also been a customer of SACE, which has supported its international growth through supplier credit solutions and documentary credit confirmations. SACE has also taken on commitments in respect of Faresin's counterparts in various areas around the world: from Europe to North Africa, Sub-Saharan Africa and Latin America. In the last year, 9 transactions were completed for a commitment of about €2.5 million.
Faresin is a company with a strong international vocation: it is present in 68 countries through its network of distributors and commercial branches ‑ two of the latter, including that of St. Petersburg in Russia, were inaugurated in 2004 with the support of SIMEST ‑ with revenues generated abroad accounting for about 85% of global turnover.
All the company’s products are manufactured entirely at its Breganze plant in the province of Vicenza. The key to the company's success is its major investment in design and research, which has enabled it to create a complete range of products that meet the specific needs of different markets, implementing commercial policies designed to drive the process of internationalisation.
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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.