15 September 2020

Banca Generali supports Officine MTM with SACE and SIMEST

We are close to businesses at this difficult time. Thanks to the synergy support of SACE and SIMEST (the Export and Internationalization pole of the CDP Group), Banca Generali has allowed Officine M.T.M. to offer a Mexican customer a 5-year payment extension at a competitive interest rate.

In this way, the Venetian company has been awarded a € 3.3 million contract for the supply of an automated plant for the production of electro-welded steel tubes for the automotive sector in Mexico.

An operation made possible through SACE's insurance coverage for the credit risk of the Spanish customer and thanks to the export contribution of SIMEST in non-repayable interest account paid directly to the exporter, which made it possible to minimize the financial cost of the entire operation, fully covering the difference between the deferral rate paid by the Spanish customer to Officine MTM and the rate made by Banca Generali.

Andrea Ragaini's comment

Andrea Ragaini, Deputy General Manager Wealth Management, Markets and Products, said: "Supporting Italian industry and companies in the complex challenge of internationalization is one of the goals that drives our concrete commitment to support the real economy. We are happy to have supported Officine MTM helping it to win this important order in a market strategic".