SIMEST, a company that together with SACE forms the export and internationalisation hub of the CDP Group, is strengthening the presence on the American market of Grastim JV, a Naples-based engineering company specialising in the design, construction and operation of cogeneration plants.
SIMEST will take a stake in Grastim US, a local subsidiary of the Group, with an investment of around €1.8 million. The resources will be used for the construction of a 4.4 MW cogeneration plant to produce electricity, heat and compressed air, which will be sold exclusively for seven years to Unilever Manufacturing US.
Grastim was founded in 2006 as a joint venture between Graded, established in 1960 and specialising in energy services for civil complexes, and the Stim Group, which is active in the design of high-tech automated lines in the industrial sector. Grastim is a global company that operates permanently in Italy, Portugal, the United Kingdom, Germany and Spain. In 2017 it posted a turnover of €27 million, an EBITDA margin of 16.9% on the value of production and a net profit of about €2.3 million, with 22 employees.
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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