Even the wealthiest businesses need a helping hand at this stage. Because often, behind the big names of Made in Italy, there are dozens if not hundreds of suppliers who manage the business: they are the small and medium-sized enterprises that form the supply chain (and related industries) of this industry or commerce. This is the case, for example, of high-end custom-built yachts, an activity in which the Italian company is the world leader Saint Lawrence, which has just concluded an agreement with Intesa Sanpaolo for support the small and medium-sized enterprises that make up the supply network. These companies will now be able to access a credit line of 50 million euros made available by the bank, to advance the trade receivables due from Sanlorenzo.
The initiative, which can essentially be defined a Supply Chain Finance program, fits into the more general context of the Supply Chain Program, developed by Intesa Sanpaolo to grow the production chains of excellence of the Italian entrepreneurial system. Sanlorenzo was listed on the Stock Exchange (STAR segment) in December 2019, shortly before the virus changed everything: it specializes in yachts longer than 30 meters, customized for each owner and characterized by a distinctive and timeless design. Sanlorenzo has over 500 employees and production is located in the four production sites located in La Spezia, Ameglia, Viareggio and Massa.
“We are very satisfied – he comments Massimo Perotti, Executive Chairman of Sanlorenzo – of this operation signed with a partner of excellence such as Intesa Sanpaolo which pays great attention to the Italian territorial districts. This agreement has a strong value for Sanlorenzo, as well as for the over 1.500 artisan companies that collaborate in the construction of our yachts and that will be able to benefit from a concrete support tool, in a delicate moment like the current one, to continue to grow and develop together in San Lorenzo. Between La Spezia and Viareggio we have one of the main nautical districts in Europe made up of absolutely excellent artisan companies with which we have been collaborating for many years and which allow us to express the best quality and the highest level of customization for our boats".
“We are facing – he added Teresio Head, head of the Piedmont, Valle d'Aosta and Liguria Department of Intesa Sanpaolo – to extraordinary events: to restart, you need to create a system and be firm in the supply chain. In fact, the relationship between the company and its suppliers represents, today more than ever before, a fundamental link which holds the local production fabric together. And it is precisely the strongest companies at the moment that have to take charge, together with the banking system, of the companies in the supply chain, which are smaller in size and therefore more fragile. The operation with Sanlorenzo responds to this sense of responsibility, together we want to give attention and value to the artisans who work in the area and the resources for growth and development."
