(Teleborsa) – Monte dei Paschi di Siena Bank has finalized a financing operation for 7 million euros in favor of the company IRCE, an important multinational company of European significance that operates in the field of winding conductors and electrical cables. The structured operation, with a duration of 5 years, will allow the company to increase its working capital and will provide concrete support for operations.
The loan was secured digitally and quickly by SACE through Italy warranty. Founded in 1947 in Imola, over the years IRCE has been able to innovate and foresee the needs of a constantly expanding market. After the first exports in the mid-1950s, in 1961 the company started the production of PVC insulated electrical cables. Between the 70s and 80s, IRCE gradually expanded, first in Italy with the plants in Imola, Guglionesi and Umbertide, and then abroad with the first subsidiary across the border and the first acquisitions, which continued until the 2000s and two thousand and ten.
Today IRCE is an industrial group of European significance, with two areas of activity: conductors for winding electrical machines e insulated cables for the transport of energy. The former are used in many applications such as electric motors and generators, transformers, inductors and relays, while the latter are used in the construction of electrical systems in civil and industrial buildings and for the power supply and wiring of electrical equipment. The production is carried out in 4 factories in Italy e 5 abroad: Nijmegen (Nl), Blackburn (UK), Joinville SC (Brazil), Kochi (India) and Kierspe (Germany). The Group also includes 5 commercial companies, 4 of which are foreign (in Germany, Spain, Switzerland and Poland) and two companies currently inoperative (China and the Czech Republic).
“Through Guarantee Italy we allow Italian companies to obtain the necessary resources to face this particularly complex period and start a concrete relaunch strategy – he declared Marco Mercury, Head of Mid Corporate Center-North of SACE -. For these reasons, we are pleased to be able to support the business development plan of a historic and important industrial reality such as IRCE SpA, a company with a strong international vocation, with the aim of actively contributing to the recovery of the local economy and the country “.
“Banca Mps once again demonstrates, with this financing operation, attention to the industrial sector, confirming in particular its proximity to a dynamic context, inspired by progress and innovation, which nevertheless does not renounce its roots – he explained Donatella Vernisi, General Manager of the North East Territorial Area of BMPS -. In this way, the Bank intends to concretely support companies in Emilia-Romagna, a region that has always been one of the most representative poles of the entrepreneurial tradition of our country, in this restart phase ”.