AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
Financial assistance in foreign market
The guarantee will cover half of an export loan worth 25 million EUR provided by Crédit Agricole Cariparma. The funds will be used to expand manufacturing in Virginia in order to create a production hub of the Eldor Corporation for the NAFTA countries. The company is a "leader in the design and production of ignition systems, engine central control units, and systems for hybrid and electric vehicles for the major world automakers". The company possesses four research and development sites in Italy but its production factories are also located in Brazil, China, and Turkey.
According to the press release, this deal strengthened SACE's "role as [a] privileged partner(s) for the international growth of Italian companies".
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