Where's Banca e Fincantieri they signed an agreement to support access to credit for companies in the mechanical sector. The agreement will allow suppliers of the sector and of companies controlled directly by Fincantieri to access UBI loans with subsidized solutions.
In detail, thanks to the collaboration with Ubi Factor, a Ubi group company, Fincantieri will allow suppliers to resort to the indirect factoring, or to transfer trade receivables and obtain liquidity to continue their business activity. The project provides for a ceiling of 50 million euro.
Ubi Banca will disburse a contract advance loan, essential to continue business in this phase of crisis due to the impact of the pandemic, and will also offer companies strategic advice.
The aim is to support, in particular, some specific categories of the mechanical and components supply chain: assemblers (engaged in assembly services at the Fincantieri plants), simple suppliers (raw materials, semi-finished products and components) and suppliers of systems, furnishings and complex systems.
"The mechanical engineering and components supply chain is historically important for the country's production system - comments Marco Mandelli, head of the corporate & investment banking division of UBI Banca - We have decided to intervene promptly, together with a leading company in the sector such as Fincantieri, to protect the competitiveness of a strategic sector. Our bank is structured to adapt its strategies to the winds of the market and is able to support companies that have to react to a new global economic crisis".
On Wednesday, just over an hour after the close of the markets, the Ubi Banca share on the Stock Exchange dropped one and a half percentage points, to 2,531 euros, while Fincantieri shares were down 4,9%, at 0,7245 euros , due to the profit-taking after the strong increases triggered by the new maxi-order in the United States. In the same minutes, the Ftse Mib was in the red by 0,84%.
