Financial support firm SACE, which is part of Italy’s Gruppo CDP, has announced it is providing funding worth €30 million to Serioplast, a Bergamo-based producer of plastic packaging for daily consumer goods.
The funding was provided by Crédit Agricole Cariparma as well as Banca Popolare di Milano S.p., SACE reported.
This credit line is expected to support the company’s investment plan from 2016 to 2020, and enable it to meet growing international demand by acquiring new production technologies.
Strengthen Partnership
The initiative strengthens the long-term partnership between Serioplast and CDP Group’s companies, SACE said.
Serioplast has been in business for 40 years, operating 22 establishments, eight of which are in Italy. The company’s main customers are in the home and personal care sector, including the food, beverage and pharmaceutical industry, including the likes of Unilever, L’Oréal, Procter & Gamble and Henkel.
The company is part of a larger packaging firm, Old Mill Holding, which provides moulds, machines for extrusion and air-blowing and filling technologies.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Francesca Volpe. Sign-up for a subscription to ESM: The European Supermarket Magazine.
