SIMEST has taken another step forward in supporting the foreign development of the PSC Group, specialised in the design and construction of technological systems.
The CDP Group’s company for internationalisation – already a 5.7% shareholder –has acquired a further 5.4% (€5 million) of PSC Spa as part of an entirely reserved capital increase.
The investment – which brings SIMEST’s total interest to 10.71% – is aimed at supporting the new 2017-2019 business plan of the PSC Group, which reflects the strategy for diversifying its range of products and services and for expanding in international markets successfully undertaken in the last few years, with the acquisition of major orders (MEP plants for the Metro Green Line in Doha and the Al Bayt Stadium in Al Khor City) in Qatar.
The objective is to consolidate market share in the historic domestic sector of electromechanical plants and promote development in new business segments (rail, TLC, fire prevention and naval), while facilitating the development of the business in foreign markets, mainly in Qatar and Iran.
With 6 offices in Italy and over 300 employees and 2 two offices abroad (one in Qatar and one being opened in Iran), with over 500 staff employed in the project companies, PSC designs and builds, as EPC contractor, turnkey plant engineering works (design, supply, assembly and operation/maintenance) in the sectors of electromechanical plants, fire prevention, naval, railway/metro and telecommunications systems.
The PSC Group is also a customer of SACE, from which it has obtained the necessary guarantees for the performance of supply contracts for the construction of the Al Bayt football stadium in Qatar.
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SIMEST is part of the CDP Group, 76% owned by SACE, with leading Italian banks and trade associations among its other investors. SIMEST and SACE form the export and internationalisation hub of the CDP Group, which offers the entire range of 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.