SACE SIMEST, the Italian export and internationalization hub of the CDP Group, has guaranteed a loan facility equivalent to USD 290 million disbursed to Braskem, the leader in thermoplastic resins (PE+PP+PVC) production in the Americas.
The aim of the initiative, jointly financed by Banco Santander and ABN Amro Bank and guaranteed by SACE, is to facilitate the positioning of Italian companies into Braskem’s supply chain, especially SMEs, in order to help them overcome the challenges due to their size and geographical distance.
This is a unique access to the opportunities offered by Braskem’s investment plan, which intends to increase its production capacity and efficiency in the upcoming years (Braskem now owns 41 facilities around the globe). Italian companies that can benefit from this transaction are, in the first place, suppliers of base chemical compounds, as well as suppliers of components, equipment and machineries linked to the petrochemical sector.
To facilitate the awarding of orders to Italian exporters, the loan agreement provides for the organization of meetings and business matching events between top management and procurement team of Braskem and Italian exporters interested in supplying products and services to the Brazilian counterparty. The first meeting will take place today in São Paulo.
“We are proud to announce the closing of another initiative under the Push Strategy program, the new proactive and concrete approach that SACE SIMEST is undertaking to support the competitiveness of Italian companies, especially SMEs, towards major players in emerging markets through targeted actions, and that in two years has mobilized over USD 1.6 billion," SACE CEO Alessandro Decio declared. “We are pleased that a company as Braskem will benefit from this financing, to increase their business with our country. Brazil is already one of the strategic targets for our exports, which in the first eight months of 2018 have grown by 11.6% versus last year."
Brazil is one of the 15 "essential" countries for Made in Italy indicated by SACE SIMEST. Italian exports reached € 3.8 billion in 2017, an 18.6% increase over 2016, and that excellent performance has spanned to the first eight months of 2018 (+ 11.6%), driven by capital goods but also by pharmaceuticals. SACE SIMEST projections suggest that Italian exports will grow by an annual average of 5.7% in the next three years, with good prospects in capital machinery, chemicals, and transport vehicles. The current recovery in the country, in fact, opens ample room for Italian products, especially for our machinery (for farming, food processing, packaging, glass metal and plastic processing).