(Finance) – BCC Banca Iccrea has completed an 11 million euro transaction, with guarantee SACE, in support of Sideralba’s foreign operations, a company operating in the metalworking and steel industry (and leader of the Rapullino Group which produces and markets over 600,000 tons of steel products per year, closed 2021 with a consolidated turnover of over 380 million, improving all economic and equity KPIs.).
The initiative – the note clarifies – was promoted in synergy with the BCC of Naples, ra company that has always been careful to preserve relations with its community of reference and, in this sense, at the forefront of the management of the company’s ordinary activities.
This is the second operation finalized by the BCC Iccrea Group in collaboration with SACE and in favor of the group based in the province of Naples, after the one signed last year which provided for a credit line of 7 million euros.
The new line of credit from 11 million euros will be functional to accompany Sideralba in the procurement of raw materials on international markets for the preparation of foreign orders. In fact, Sideralba has launched an important strategy of diversifying its basket of foreign suppliers to cope with the impacts of recent macroeconomic developments and the growing orders from its customers.
“With this new operation – he comments Daniele Palombi, CFO and managing director of Sideralba – our group consolidates a partnership with the BCC Iccrea group that has been active for over a year and has developed across the board. The initiative allows us to gather additional resources to give continuity to our development action in international markets “.
“With this important operation approved in Sideralba, a leading company in the sector headed by the Rapullino family – he adds Amedeo Manzo, President of the BCC of Naples – the effectiveness of the credit model of the Cooperative Credit is demonstrated. The synthesis between the knowledge of the territory, the commercial capacity of the Bcc of Naples, developed thanks to an innovative management of the relationship and the efficient proposal of the BCC Iccrea Group, allows to obtain extraordinary results. It is shown that the speed and dynamism of local BCCs can be combined with the solidity and conditions offered by the fourth Italian banking group, to which our BCC adheres. Southern Italy and Italy need ‘community banks’, which have always been available to support the real economy even in decisive moments for the development of our country “.
“We are proud to support Sideralba, an excellence from Campania with whom we have consolidated a successful historical relationship, supporting it both on the domestic and international markets. – he has declared Antonio Bartolo, South Mid Corporate Manager of SACE – SACE’s mission is to support companies and the Italian economy, in particular in the face of crisis situations and with this operation we support an important company such as Sideralba, active in the metallurgical and steel sector, highly strategic and strongly affected by the current Russian-Ukrainian conflict “.
“For us of the BCC Iccrea Group it is a reason for satisfaction to renew our collaboration with Sideralba – he comments Carlo Napoleoni, Head of the Business Division of Iccrea Banca – our Group, in collaboration with the mutual banks in the area, is committed every day to assist the development paths of Italian companies, including towards international markets, intercepting their needs in detail and providing them with all the technical solutions necessary for their industrial growth “.