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SACE (CDP Group) supports Atala’s export: € 600,000 financing for the internationalization of the historical Lombard firm
SACE, which with SIMEST forms the export and internationalization hub of the CDP Group, has finalized a € 600,000 loan to support the export activity of Atala.
The line of credit, guaranteed by SACE, will be used to support the business of the historical bicycle manufacturer, which will use the new resources to purchase components from foreign suppliers. With this initiative, SACE confirms its commitment to bolster companies that give Made in Italy worldwide distribution.
“The transaction is part of the growth process of the company, which closed 2017 with a significant improvement in sales and after-tax earnings," declared Massimo Panzeri, CEO of Atala. "A further 5.8% increase in sales is forecasted for 2018, driven primarily by foreign markets, which will grow 25.5 % versus the previous year, based on our order book.”
The Atala trademark, founded in Milan more than a century ago, is synonymous with Made in Italy know-how and quality. The company, which moved its HQ from Padua to Monza in 2009, has been building bicycles since 1907: the winner of the first Giro d'Italia was wearing Atala’s jersey. Thanks to continuous R&D activity, the company has remained an industry leader through the decades. It has exported its products to numerous countries, including Switzerland, Spain, Belgium, France, Finland, and Austria.
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