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SIMEST partners with Ansaldo Energia for international expansion

The partnership sees an expansion in the new world markets. (Image source: Ansaldo Energia)

SIMEST has acquired 11 per cent stake in Ansaldo Energia Switzerland, a wholly- owned subsidiary of Ansaldo Energia, an Italian power engineering company

Additionally, SIMEST has also made an interest contribution against a US$71.21mn loan granted by UBI Banca, aiming to offer financial coverage for Ansaldo Energia Switzerland’s capitalisation and investment plans.

According to SIMEST, the acquisition aims to support Ansaldo Energia group’s investments in research and development (R&D), amounting to US$356.06mn in the 2016-2020 plan.

Ansaldo Energia Switzerland performs R&D activities relating to gas turbine technology and service work on operating gas turbines, with an annual turnover of about US$118.69mn.

With the help of these new resources, Ansaldo Energia is expected to be able to improve standards and strengthen its product range. The company focuses on extending its international reach by entering markets it does not serve yet, including the United States and several areas in the far and Middle East region.

Speaking to the press, Alessandra Ricci, CEO of SIMEST, said, “The acquisition by SIMEST of a stake in the share capital of Ansaldo Energia Switzerland establishes a partnership that seals the consolidated relationship between the Centre for export and internationalisation and Ansaldo Energia, in view of the numerous export credit, financing and factoring operations.”

“Not only for the financial participation, but most importantly for offering its support to the Ansaldo Energia group company that is working hardest on the development of the key component in our product portfolio,” ADDED Giuseppe Zampini, chairman of Ansaldo Energia group.

SIMEST operates through financing for internationalisation, export credit support and equity participation. The company, together with SACE, is part of the export and internationalisation hub of the CDP group, a single point of contact for companies that includes all the tools to compete and grow internationally.

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