- The agreement strengthens the partnership that enabled to finance over EUR 3 billion worth of project awarded globally to the Italian engineering group
- In view of new international initiatives, thanks to the agreement signed today, 50 Italian suppliers of Maire Tecnimont will be supported by SACE SIMEST to increase their growth and competitive edge in Italy and abroad
Rome, 21 December 2017 - SACE SIMEST – the export and internationalization hub of CDP Group – and Maire Tecnimont have signed today an important agreement to support the Italian supply chain of the Engineering and Construction Group focused on the oil & gas, petrochemical and fertilizer sectors.
This agreement strengthens the long-term partnership that enabled to finance during the last five years €3 billion worth of projects awarded to Maire Tecnimont globally. An overall amount which is expected to increase, in view of €4.5 billion worth of initiatives that SACE SIMEST is currently evaluating in order to support new projects that could be awarded to the Italian Group.
Under the agreement signed today by the CEOs of both companies, 50 SMEs of Maire Tecnimont’s supply chain will be able to use insurance and financial instruments as well as SACE SIMEST’s experts to strengthen their competitive edge in Italy and abroad.
Fabrizio Di Amato, Maire Tecnimont Chairman, commented: “With the agreement signed today by our CEO Folgiero, we take a step forward in promoting the Italian technological supply chain involved in our projects worldwide. We are strongly committed to increasing the competitive edge of the Made in Italy engineering value chain, and we do so both through our business operations, both through the institutional and entrepreneurial community, which has recently been relaunched in the frame of Assolombarda.”
Alessandro Decio, SACE Chief Executive Officer, commented: “This agreement confirms our commitment in supporting the growth of a key player such as Maire Tecnimontin the international markets, as well as in increasing the competitive edge of all the SMEs involved in its value chain. Thanks to SACE SIMEST tools and resources, small and medium enterprises can increase their quality and express their potential in Italy and worldwide.”
Thanks to the agreement, Maire Tecnimont’s suppliers will be able, for instance, to obtain liquidity through the advance payment of their supplies, to collect past due receivables worldwide, to receive the necessary guarantees to execute new supply contracts and to protect their revenues from the risk of non-payment. Furthermore, they will have various financial solutions available to invest and grow in the international markets: from low interest-rate financing in order to internationalize their activity, to equity investments in the company or its foreign subsidiaries.
Among the latest main deals, it’s worth mentioning the SACE SIMEST support in financing $840 million for an ORPIC petrochemical complex in Oman and €575 million for a Eurochem ammonia plant in Russia. Many Italian SMEs benefit from this works thanks to the assignment of large supply contracts, as in the case of the ORPIC plant in Oman where 90 Italian suppliers participated, generating 154 million dollars of revenues.
Maire Tecnimont S.p.A.
Maire Tecnimont S.p.A. is a company listed with the Milan stock exchange. It heads an industrial group (the Maire Tecnimont Group) that leads the international Engineering & Construction (E&C), Technology & Licensing and Energy Business Development & Ventures markets, with specific competences in plants, particularly in the hydrocarbons segment (Oil & Gas, Petrochemicals and Fertilisers), as well as in Power Generation and Infrastructures. The Maire Tecnimont Group operates in approximately 40 different countries, numbering around 50 operative companies and a workforce of about 5,400 employees, along with approximately 3,000 additional Electrical & Instrumentation professionals. For more information: www.mairetecnimont.com.
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SACE, a wholly-owned subsidiary of Cassa Depositi e Prestiti, offer export credit services, credit insurance, protection of foreign investments, financial guarantees, bonding, and factoring. With € 87 billion in transaction insured in 198 countries, it supports the competitiveness of companies in Italy and abroad, ensuring more stable cash flows and transforming the default risk of companies into development opportunities. With SIMEST, of which it owns 76%, it forms the export and internationalization hub: a single point of reference for access to all the insurance-financial instruments of the CDP Group designed to support the competitiveness and foreign growth of Italian companies worldwide.
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