INTESA SANPAOLO SUPPORTS THE INTERNATIONAL GROWTH OF EUROSTAMPA
LOAN TO THE US SUBSIDIARY THROUGH INTESA SANPAOLO NEW YORK
· Eurostampa is a family-owned group based in Italy’s Langhe region, which has grown its business throughout the world thanks to its unique skills and technologies in the production of high quality labels
· In 2007 the company began its expansion in the USA with the acquisition of a plant in Cincinnati (Ohio)
· Intesa Sanpaolo will support the development plan for the US market with a medium/long-term loan of 6 million USD for capital expenditure and the strengthening of industrial production
· The transaction, which Intesa Sanpaolo’s New York branch took part in, was completed very quickly despite the current emergency
Cuneo/Turin, 21 May 2020 - The Intesa Sanpaolo Group’s Cuneo Corporate Branch has completed a loan transaction for around 6 million USD in favour of Eurostampa North America, the US subsidiary of the Cuneo-based group, a world leader in the production of high value added labels.
Despite the ongoing Covid-19 emergency, the transaction was completed very quickly and at highly favourable conditions, thanks to the support of the Intesa Sanpaolo branch in New York, the strategic hub for the corporate world in the United States.
Eurostampa has prestigious customers all over the world in the wine & spirits, champagne, food and cosmetics sectors, and is continuously seeking innovative solutions, from printing technologies, to specialty paper and ink, to hi-tech solutions for anti-counterfeiting, traceability and connectivity. The group has production facilities in Scotland, France, California and Mexico and sales offices in Spain, Germany and Russia.
The CEO of Eurostampa North America, Gianmario Cillario, stated: “This transaction confirms the soundness of the project aimed at being present in the North American market and, in particular, at being close to our partners in the world of spirits. Eurostampa North America was the first and fundamental step in the international expansion of the Eurostampa group, which has allowed us to take a lead role on the world stage, with our products now sold in over 40 countries”.
Teresio Testa, Head of the Piedmont, Valle D'Aosta and Liguria Department of Intesa Sanpaolo, noted: “Also on this occasion, despite the very difficult situation, Intesa Sanpaolo is supporting the international expansion of the best companies by giving them access to its international network to enhance their competitive strength at global level. In addition to channelling liquidity to companies to help them get going again, we want to be a driver of strategic development for their future”.
Intesa Sanpaolo Industria Grafica Eurostampa
Banca dei Territori Media Relations and Local Media External Relations
Last updated 21 May 2020 at 19:16