SACE and SIMEST, which together form the CDP Group's export and internationalization hub, and the Proma Group, a leader in the automotive components sector, have finalized an agreement to support the supply chain of the Campania-based industrial group.
SACE and SIMEST will offer the suppliers of the Proma Group – who are located throughout the country and operate in a range of industrial sectors – a package of insurance and financial solutions to meet more directly to their numerous needs associated with business development processes and expansion in foreign markets.
For example, as part of the performance of supply contracts, the companies will be able to obtain liquidity through the advance payment of completed contracts; obtain the necessary guarantees for the performance of new supply contracts in Italy and abroad; and protect their turnover from the risk of non-payment. Moreover, SACE and SIMEST will also provide an extensive range of solutions to enable them to expand and consolidate their positions on international markets, including soft loans from SIMEST and guarantees from SACE to support internationalisation, as well as the recovery of outstanding receivables around the world.
“Thanks to today’s agreement”, said Vincenzo Nunziata, General Manager of the Proma Group, “we intend to forge a partnership relationship with our suppliers in order to work together to respond more effectively to the growing demands of the global market”.
“With this operation”, remarked Simonetta Acri, Chief Sales Officer of SACE, “we are confirming our ability to respond effectively to the needs of large companies and small and medium-sized enterprises alike. SACE and SIMEST are committed to supporting SMEs, because they represent a form of quality entrepreneurship that is constantly called upon to enhance its competitiveness in order to tackle an increasingly complex environment”.
The initiative ‑ signed for SACE by Simonetta Acri, Chief Sales Officer, and for SIMEST by Andrea Novelli, Chief Executive Officer ‑ consolidates the long-term relationship that the Proma Group has with SACE and SIMEST, two partners to develop their business abroad and grow on international markets.
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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