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€ 25 million from SACE (Cdp Group) and Crédit Agricole Cariparma for the growth of Eldor Corporation in the United States
SACE (Cassa depositi e Prestiti Group) and Crédit Agricole Cariparma join forces again to assist the international growth of Italian companies. This latest initiative concerns a € 25 million loan to Eldor Corporation, a Como-based company specialized in the automotive sector, leader in the design and production of ignition systems, engine central control units, and systems for hybrid and electric vehicles for the major world automakers.
The purpose of the € 25 million loan, issued by Crédit Agricole Cariparma and guaranteed by SACE for 50%, is to support the development of Eldor especially in the United States, where a new manufacturing facility will be built in Virginia: a production hub for the NAFTA countries (U.S., Canada and Mexico) and one of the areas of greatest potential demand for the automotive industry.
Eldor represents the Italian excellence in electronics and contributes to environmental sustainability by developing and producing high-tech systems for vehicle electrification. The group has three R&D centers in Italy and four production sites in Italy, Turkey, China and Brazil, as well as technical-commercial centers in the U.S., China, Japan and Germany.
With this joint initiative, SACE and Crédit Agricole Cariparma confirm their role as privileged partners for the international growth of Italian companies.
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