AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
The guarantee approved by the Italian Eximbank SACE for a loan issued by Crédit Agricole Cariparma to Italian Serioplast has a total value of EUR 30 million (USD 36 million). The approval of the guarantee was announced on 29 August 2017 in a press release.
The loan and guarantee support Serioplast's 2016-2020 investment plan focussing on purchasing new production equipment and technology in connection with the company's production activities of rigid plastic packaging service, hereunder "customized, rigid plastic bottle packaging". The investment plan additionally seeks to strengthen the company's "presence in the extra-EU markets, especially in Russia".
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets and from foreign subsidiaries.
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