Banco Popolare and Sace announced today the finalization of a 12,5 million euro credit line in favor of Lucart SpA, a company of excellence in the Lucca paper district.
European leader in the production of thin MG papers for flexible packaging and in the top10 of paper and product manufacturers tissue, Lucart SpA intends to use the funding for investments in R&D, energy efficiency and reduction of the environmental impact of its activities, envisaged in the 2013-2016 Business Plan.
The loan, guaranteed by Sace, will be disbursed by Banco Popolare through the Territorial Directorate of the Cassa di Risparmio di Lucca, Pisa and Livorno, based on a ceiling made available by the EIB to Banco Popolare to support the innovative and R&D projects of small and medium-sized Italian companies.
In a situation that is certainly not easy for Italian entrepreneurs, the operation is an innovative example of effective financial collaboration, capable of improving credit access opportunities by combining the expertise of three specific realities: the widespread presence of Banco Popolare in the territory and the professionalism and consultancy of the Foreign Service and Subsidized Finance, the solidity and financial strength of the EIB and the experience and ability of SACE in issuing guarantees in favor of the system bank to improve access to credit for Italian companies.
This is an innovative operation that Banco Popolare intends to replicate to finance other important investment projects of Italian companies. SACE and Banco Popolare have always been at Lucart's side both for its growth plans in Italy and abroad, and for the daily import-export activity. SACE, through its Lucca office, has already supported Lucart's plans for growth abroad in the past, guaranteeing a loan of € 5 million for the renewal and redevelopment of the production plants in France and to support the costs of promotion and development of the Tenderly and Tutto Pannocarta brands.
