SIMEST (CDP Group): supported in the first half of 2022 the export of 23 Italian SMEs and MidCaps

(Teleborsa) – They are 23 Italian SMEs and MidCaps producers of capital goods, which – thanks to support from SIMEST – i in the first half of 2022 they exported their products to 26 countries and earned over 334 million euros+ 182% compared to the same period in 2021.

SIMEST’s support took place on supplier credit transactions through the instrument “Export contribution“, a non-repayable subsidy for the full or partial reduction of the costs of the disposal of payment instruments, normally issued by the foreign buyer against the medium and long-term extensions granted in the sales contracts.

SIMEST also strengthened support for Italian exports by SMEs also thanks to the possibility to request the contribution for the disinvestment of payment instruments from financial intermediaries outside banks such as factoring companies. In fact, SMEs are historically the ones that make greater use of factoring companies to sell off the invoices issued by their foreign clients.
Among the destination countries for supplies are Brazil, China, Mexico and the United States, but also markets such as Angola and Bangladesh.

THAT leading sectors those of textile machinery, agricultural machinery, plastic and metal processing, paper production and plants for the manufacture of soap and water purification are confirmed, sectors where, despite the difficult historical moment, the Italians have been able to maintain their market positions.

Among the many Italian companies supported by SIMEST, we find: Seriomac (Serioplast Group), PMI from Seriate (BG), which produces machines for the production of plastic bottles for the Personal Care, Home Care and Food and Beverage sectors. Thanks to the support of SIMEST and the mediation of Forty Four from Milan, it will export 4 to the United States for a total of € 8.7 million of loans eligible for subsidized intervention; Savio textile machines, MidCap of Pordenone with over 110 years of history, leader in the design and production of yarn finishing machines. Thanks to the support of SIMEST, it will export 2 to China and 2 to Romania for a total of 3 million euros in loans eligible for subsidized intervention; Man Gaspardo, MidCap of Padua, leader in the design and production of agricultural machinery. It obtained support from SIMEST for supplies in the US for approx. €0.8 million Sacmia company with production headquarters in Imola, world leader in the design and production of machines and complete plants for the ceramic industry, thanks to the contribution of SIMEST, has completed a contract in Turkey for approximately 9.3 million euros; SitaelPMI from Mola di Bari, which offers solutions for electric mobility through the creation of electronic components for electric vehicles combined with innovative software solutions, has exported a fleet of e-bikes to the Netherlands for more than 0.7 million euros, thanks to the support of SIMEST and through mediation by Milanese Exetra.

That Export contribution on supplier credit is a tool that SIMEST administers in agreement with The Ministry of Foreign Affairs and International Cooperation. By managing a public fund (Foundation 295/73) SIMEST provides a non-refundable interest subsidy directly to the Italian exporter thus allowing it to offer deferred payments for competitive purchase terms for its products. It is paid to the Italian company – mainly SMEs and MidCaps – when the vouchers are discounted at a discounted institution (bills of exchange, stand by L/C, letters of guarantee).

The payment instruments are issued by the foreign buyer against the due payment dates. That Export contributions compensate for the difference – if positive – between the discount rate requested by the discounting institution and the interest rate of the deferred payment obtained by the Italian exporter, allowing the latter to zero / minimize the cost of the operation. SMEs: These are companies with fewer than 250 employees and an annual turnover not exceeding 50 million euros; MidCaps: These are companies that do not qualify as SMEs with a turnover of no more than 500 million euros.

(Telebourse) 25-07-2022 10:48

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