SIMEST again provides support for the internationalisation of the CLN Group
Acquisition of three investments for a total of over €19 million in Italy, Germany and South Africa to support the 2018-2022 development plan, which is based on new orders from major global customers. SIMEST, the company that together with SACE forms the export and internationalisation hub of the Cassa Depositi e Prestiti Group, again provides support for the internationalisation of the CLN Group with three acquisitions in Italy, Germany and South Africa, in addition to the four partnerships already held in Italy, Brazil, Argentina and South Africa.
The SIMEST investment of over €19 million will support our 2018-2022 investment programme, which has been developed on the basis of recent orders from some of the world’s leading automotive groups. More specifically, €8 million will go towards a capital increase for MA Srl, an Italian sub-holding company of our Group that directly controls six Italian plants producing bodywork components, structural elements and coatings; €5 million will support the expansion of the German company MA Automotive Deutschland, which controls two plants involved in manufacturing steel and aluminium automotive body parts, whose main customers are BMW and Mercedes; and €6.8 million will go to support the development of the South African company MA Automotive South Africa, which has 7 factories operating in the production of pressed steel components.