SACE SIMEST, the export and internationalization hub of the CDP Group, and BNL Group BNP Paribas are supporting the growth of Global Display Solutions (GDS) in the United Arab Emirates: the firm designs and installs LCD displays for passenger information.
This is a double initiative to enhance the company's exports. The contract entails the supply of LCD displays for the metro system of Dubai and includes the design, installation, and maintenance of the entire video transmission system and a display strip 70 meters long for each track of the seven new metro stations under construction in light of for Expo 2020. To support the contract, SACE and BNL Group BNP Paribas first counter-guaranteed and guaranteed a performance bond on contract execution; BNL Group BNP Paribas then issued a € 1 million loan, guaranteed by SACE, in favor of GDS for preparation of the order.
“This contract represents an important strategic opportunity for GDS to expand our business in the Emirates and in the rail sector. We will deliver a turnkey system that requires thorough project-management expertise and an innovative product that enabled us to overcome the competition of multinationals much larger and better-known than us. The financial support of SACE and BNL Group BNP Paribas is essential to allow our group to participate in international tenders and definitely lends credibility to our proposal," declared Giovanni Cariolato, Chairman of GDS S.p.A.
Founded in 1979, the Vicenza-based company became Global Display Solutions in 2001, through a process of internationalization, mergers and acquisitions. It designs, produces, and markets monitors, applications, and electronic circuits applicable in ATMs, the medical, automotive, and industrial fields, transport, and advertising. GDS has a strong export calling and is seeking to diversify its operations by working in a broad range of markets (South America, Far East, United States, and Europe). Its international projection has been supported over the years by the SACE SIMEST Hub. More specifically, GDS has benefited on several occasions from SIMEST investment in the capital of a few of its foreign subsidiaries, while with SACE guaranteed a loan to support its R&D investments.
EXPO 2020: an opportunity for Italian exporters
The GDS contract is part of a mega project to extend the red line of the Dubai metro to connect the city center with the site that will host EXPO 2020. The universal exposition will generate a flow of 25 million visitors to the Emirate, which has planned numerous infrastructural projects, including the extension of the metro line, the design of a new urban zone, and the construction of the new Al Maktoum International airport. This is a unique opportunity for Italian companies, particularly those in construction and tourism and suppliers of services and structures for the construction of pavilions. SACE SIMEST, present with an office in Dubai since 2016, supports Italian companies interested in seizing the opportunities offered by the UAE and has various agreements in force to facilitate access by Italian exporters to the business generated by EXPO.