MILAN, Jan. 14 (Class Editori) -- The fourth loan granted by CDP to the growth of Italian companies in the Chinese market equals to € 10 million, thanks to resources raised since the issue of the first Italian Panda Bond. To benefit of around 80 million yuan is Euro-Misi Laminations Jiaxing, a company operating in the Chinese market, a subsidiary of the Italian group EuroGroup Laminations. It is specialized in the production and distribution of stators and rotors, main components of electric motors and generators, with a turnover of more than € 410 million and it has approximately 2 thousand employees.
Euro-Misi operates in China since 2012. Since July 2016, it has expanded its operations from purely commercial activities to the industrial ones, with a factory in Jiaxing, in the Zhejiang province. The company has a multi-year order portfolio consisting of contracts already in force with important groups in the automotive sector, in particular linked to the production of electric drive cars
Therefore, the resources will be allocated to the growth of the group and to the investments in new high-tech plants and machinery aimed at producing components for electric vehicles in the Chinese market.
The funding has been entirely granted by CDP on the provision of the inaugural issuance of the 1 billion Yuan "Panda Bond", successfully concluded last July 31. The Shanghai branch of Monte Paschi di Siena acted as a Facility Agent in the transaction.
EuroGroup Laminations is based in Milan, and through its 12 plants it operates in the main international markets (Europe, North America, China and Russia). The company has 52 years of experience in very different sectors, from industrial to domestic applications, ventilation, pumps, trains, wind power generation and automotive. The latter is in full development in the current transition from traditional thermal to electric motors. This transition allowed EuroGroup Laminations to acquire new important orders and become the reference supplier for some of the main car manufacturers worldwide engaged in this challenge.
"CDP confirms its role as a catalyst of resources in favor of Italian companies operating in the Chinese market in support of their growth and innovation activities" said the head of the CDP Companies division, Nunzio Tartaglia.
"In the long term, EuroGroup Laminations aims at achieving a leadership role in the sector in the Chinese market, that is what we already achieved in Europe and America," said the CEO of EuroGroup Laminations, Marco Arduini. "This financing will allow us to support our next development plans and install the production capacity necessary for new orders received from Bosch, Nissan, LG Mot".
(Source: Class Editori)
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