Italy's SIMEST Spa, a company of Italian investment bank CDP Group and which, along with SACE, constitutes the group's exports and international operations, has become a shareholder in Stahl Gerlafingen AG, the Swiss subsidiary of Italian merchant bar producer AFV Beltrame Group.
"With an investment of €15 million, SIMEST, a company of CDP Group that supports the growth of Italian companies in the world, contributes to the international growth and the implementation of an important ecological transition plan for AFV Beltrame Group," SIMEST and AFV Beltrame Group announced in a joint press release.
The resources thus provided will make a solid contribution to the realization of the company's ambitious development plan, which provides for total investments of over €58 million and a particular focus on reducing its environmental impact. AFV Beltrame Group has prepared a plan aimed at promoting the increase in the efficiency of the production process through the reduction of energy consumption and increasing the efficiency of plants. The investments will lead to "a reduction of about 20 percent in CO2 emissions, to which is added a further 10 percent for the hot introduction of raw material and lower energy consumption."
"The main strategic objective to which we dedicate our investments is the maintenance of high plant standards according to the most recent innovations, so as to guarantee the highest quality of a product that at the same time meets the ESG criteria. It is precisely with a view to continuous and sustainable growth that the partnership with SIMEST Spa is taking place: modernization works of the entire production plant are planned for the Swiss office of Stahl Gerlafingen which will increase productivity, significantly improve energy efficiency and, with the installation of a new kiln in the rolling mill, reduce emissions. This will allow us to be more competitive in an increasingly competitive steel market," stated Raffaele Ruella, CFO & head of Corporate Services, and managing director of AFV Beltrame Group.