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9/19/2014
Sacmi Group: close partnership with Sace generates important new orders in the Middle East

Partnership with CDP-controlled insurance-financial group proves to be essential. Yet the international situation will require a further boost if competitiveness with the Germans is to be ensured.

As part of a now-consolidated partnership, Sace and the Sacmi Group have concluded several insurance operations to provide coverage for the supply of complete production lines, valued at almost 20 million Euros, to the Egyptian ceramic industry. “Despite the social-political tensions affecting the Middle East”, points out Group CFO, Paolo Billi, “Sace has again demonstrated its willingness to support an Italian technology exporter by facilitating major export contracts to that area”.
A key sign, then, of comprehension and confidence on the part of Sace, the insurance-financial group active in the export credit, credit insurance, investment protection, financial guarantee, securities and factoring fields. Saci is also a key partner of Sacmi, which exports almost 90% of its sales, mostly to emerging economies. “Sacmi’s demand for insurance and financing solutions is significantly conditioned by its standing as an exporting plant engineering firm,” notes Billi, “an exporter of high-value capital goods to growing nations that requires complex, high-tech financial solutions”.
Hence the indispensable teamwork with Sace, which belongs to a small cluster of strategic Sacmi Group partners “thanks to rewarding business relations that stem from decades of close collaboration and experimentation aimed at finding ever-more sophisticated, evolved insurance and financing tools capable of supporting exports”.
Nevertheless, considerable problems remain on account of the weakness of Italy’s public administration compared to more advanced manufacturing economies such as Germany which – given its undoubtedly more efficient public bodies – has a clear competitive advantage over Italian companies, especially on emerging markets.
Hence Sace’s difficulties in accomplishing its mission: it is 100% controlled by the Cassa depositi e prestiti, which, as a public body, is subject to the restrictions that have affected public funding for at least three years, Nevertheless, it continues – albeit in observance of the strict limitations established by the EU and a direct consequence of the excessive debt stock accumulated in previous decades – to promote Italian exports, fully aware that foreign markets now represent, more than ever, the best opportunities for the national manufacturing base.
Italy’s entrepreneurial community is thus eager to see improvements, especially the largest, most internationalised firms such as Sacmi; they, better than others, are weathering the volatility of international industrial and financial markets and responding to the persistent stagnation of internal demand by focusing on exports: “Sace is deeply committed to such operations and results have been exceedingly positive”, concludes Billi. “However, more effective action on the part of the government would smooth the introduction of innovative financial-insurance tools to support companies ready to rise to the challenge of competing against major European players on international markets”. It’s a challenge that requires ‘turnkey’ solutions, streamlined procedures and not too many protagonists. In short, less bureaucracy and more resolute support – albeit within the confines of public finance – of companies that invest in order to boost our manufacturing system’s ability to penetrate overseas markets.
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