The Sicilian recycling equipment company Montalbano Recycling has received a € 400,000 (US $450,000) line of credit by three financial institutions to allow the company to expand its operations.
The financial groups involved in the financing package include SACE (Cassa depositi e prestiti Group), ICCREA BancaImpresa (the corporate bank of the ICCREA Credito Cooperativo – Banking Group) and Banca Don Rizzo Credito Cooperativo della Sicilia Occidentale.
According to ICCREA, this is the first initiative under the “2i per l’Impresa" program of Cdp, SACE and FEI (BEI Group), which provides Italian equipment companies with the resources of the Juncker Plan to support their internationalization and innovation.
The Juncker Plan was created to revive investments in strategic projects around Europe by mobilizing 315 billion euro for the period 2015-2017.
All three banks note that the loan, guaranteed by SACE and issued by Iccrea BancaImpresa and Banca Don Rizzo Credito Cooperativo della Sicilia Occidentale, will sustain the cost of renewing machinery and the plant for the company's expansion in Europe, the United States, Mexico and the Gulf countries.
Montalbano Recycling says it has experience in the design and construction of technological, eco-friendly plants for the disposal, recycling and recovery of waste and other materials. The company adds that its personalized products and services, the high quality of the machinery and the constant customer care have established the company's presence in the international markets, which account for 80 percent of its revenues, through a steadily-growing worldwide network of partners.