GIMAV agreement with SACE to boost international competitivity

The accord is aimed at giving GIMAV companies greater support in the fields of export and internationalization.

GIMAV (Italian Association of Manufacturers of Machinery, Accessories and
Special Products for Glass Processing) and SACE Group (export credits, credit insurance, foreign investment protection, financial guarantees, securities and factoring) have announced the signing of an important collaboration agreement designed to strengthen the international competitiveness of GIMAV member companies, ensuring more effective access to insurance and financial support for exports and internationalization.
GIMAV member companies are a prominent feature in the Italian industrial landscape: their turnover amounted to more than EUR 1.1 billion in 2013, or 80% of the total sector turnover and 77% of total exports by Italian manufacturers of machinery, accessories and
special products for glass processing. Italian designed machinery has placed Italy among the top players in the world, with continued growth in sales abroad in recent years (+ 4%, 2013).
SACE services now cover all the needs of companies that compete outside Italy: access to funding for internationalization; sales insurance to cover the risk of non-payment; protection of foreign investments from political risks; sureties for competitive tenders and orders; liquidation of receivables with counterparts; credit recovery services; assistance and training in the field of internationalization.
This is an activity that is consistent with the initiatives undertaken by GIMAV in support of its members: promotion of the sector and coordination of the presence of the members at the main international events, activation of new and varied opportunities for an approach directed to international markets and full support for all business activities.
Laura Biason – Deputy Director of GIMAV – thus clarifies the guidelines of the agreement: “The common goal that brought us to the discussion and subsequently to the signing of the agreement is to give support to businesses in their approach to foreign markets and to cooperate for
the effective promotion of Made in Italy by the sector in the world. This collaboration will primarily be developed to meet the operational needs related to project investment and exports by our members. “
Simonetta Acre – Director Network Italian SACE – said: ” We see great international potential for the glass industry: the best margins will come from markets outside the EU that will drive future demand for technologies and investments and which already generate 70% of exports of the entire supply chain, and in particular from emerging markets such as Brazil, Mexico and China. SACE will strengthen the overall competitiveness of the sector, hopefully increasing export turnover: we will provide member companies the most appropriate tools to improve cash receipts, offer competitive terms of payment and consulting services to manage the most delicate aspects such as the evaluation of counterparts, the drafting of contracts and management risk. “
“The agreement signed with SACE – said the Director of Gimav, Renata Gaffo – goes in the direction drawn by the Association to ensure an ever wider range of services to support member companies. The hope is that the agreement provides further facilitation for export, which already
absorbs more than 80% of Italian production in the sector”.