ANNOUNCEMENT 30 Jan 2018

In January 2018, the Italian Eximbank SACE announced approving a guarantee to support Italian company's exports of round steel bars.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

SACE, press release of 30 January 2018, Steel Exports for ASO Group of Brescia: https://www.sace.it/en/media/press-releases/press-release/steel-exports-for-aso-group-of-brescia

Inception date: 30 Jan 2018 | Removal date: open ended

Trade finance

On 30 January 2018, the Italian Eximbank SACE announced providing a guarantee for a loan issued to Italian ASO Group. The guarantee has a total value of EUR 16 million (USD 19.8 million). 

The loan and guarantee support the Italian company's production and export of round steel bars through the purchase of an innovative forging line.

In this context, Simonetta Acri, Chief Sales Officer of SACE, stated in a press release: "By supporting companies like ASO, we are confirming our commitment to support a dynamic local industrial system with an international calling. This initiative confirms that technological innovation and internationalization are the necessary combination for competing and confronting the challenge of foreign markets"

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.

AFFECTED SECTORS