Sace and Intesa Sanpaolo announce a 6 million euro operation to support the growth in Mexico of Olsa, a Piedmontese group specialized in the production of internal and external lighting devices for motor vehicles.
As part of the transaction, Sace guaranteed a 6 million euro loan disbursed by Mediocredito Italiano, the corporate finance hub of the Intesa Sanpaolo group, for the purchase of industrial machinery and equipment necessary for the development of operations of the subsidiary Olsa Sistemas de lluminacion Automotriz, with the aim of increasing production activity and developing higher sales volumes in Mexico.
"Our company, in its by now defined path of growth and international consolidation - commented Massimo Bravin, CEO of the Olsa Group - has found, in the partnership with SACE and Intesa Sanpaolo, an excellent support that allows us to realize the expansion and development in the Mexican market, as has already happened for the Chinese one”.
Founded in 1947 in Rivoli, Piedmont, today the Olsa group has five branches abroad and over 2.600 employees. It mainly operates outside the Italian borders, particularly in Europe, the United States, Brazil and Mexico, where it has relationships with the main car manufacturers such as Fiat, Audi, Volkswagen, BMW, Renault, Ford, Mercedes and Nissan.
According to Sace forecasts, Mexico is among the destinations with the greatest potential for Italian companies, with growth forecasts for our exports at an average annual rate of 5,8% in 2016-2018 and the best opportunities for the components segment automotive.
