SIMEST, which together with SACE forms the export and internationalisation hub of the CDP Group, is supporting the Tunisian development plans of Eurotranciatura, the main production company of Euro Group, which manufactures components for electric motors and generators.
SIMEST will invest €3 million in Eurotranciatura Tunisia, in which SIMEST has held a stake since 2010, participating in a capital increase to support new planned investments. The Tunisian subsidiary is active in the production and marketing of rotors and stators for electric motors for automation systems for homes and commercial buildings. The new capital injection will support the Lombardy-based group’s development plans in the country, which envisage the consolidation of existing operations and the entry into new sectors, in particular the industrial and home segments.
This operation strengthens the partnership between Euro Group and SACE SIMEST, which had previously supported the Group’s international development with loans guaranteed by SACE to expand its presence in the US and Mexican markets and the stakes acquired by SIMEST in its subsidiaries in Mexico, Tunisia and China.
Euro Group is the world leader in the production and distribution of blanked magnetic laminations for electric motors and generators for a wide variety of industries: automotive, energy, industrial, home. It is an industrial holding company that coordinates and controls a large group of specialised and complementary companies, with about 1,800 employees and a forecast turnover for 2018 of about €400 million. The Group, which was founded with the establishment of Eurotranciatura in 1967 and is headquartered in Baranzate (Province of Milan), has grown over 50 years of activity to boast 6 plants in Lombardy and entered global markets with its own manufacturing sites in China, Russia, the United States, Mexico and Tunisia.
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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