Agreements SACE - 14 November 2019

FROM SANGRO VALLEY TO THE WORLD TASSO TARGETS FOREIGN MARKETS TO DEVELOP ITS BUSINESS

SACE SIMEST (CDP Group) and Intesa Sanpaolo support the international development plans of the Abruzzo SME

SACE SIMEST, the CDP Group’s export and internationalization Hub, and Intesa Sanpaolo have supported Tasso’s international development plans. Tasso is an SME from Abruzzo that operates in the plastic and metal working sector.

In more detail, Tasso has obtained a loan worth 900,000 Euros, granted by Intesa Sanpaolo and guaranteed by SACE SIMEST, that is aimed at supporting the company’s overseas growth. The loan is intended to cover the purchase and upgrade costs of machines, with the aim of increasing production for export.

Tasso was founded at the beginning of the 1990s in the industrial zone of the Sangro Valley in Atessa (CH). It is specialized in the sectors of thermoforming and molding hot plastic materials. It has progressively widened its operations to include sheet metal working and painting, in order to offer their clients a rich array of services. “The added value”, CEO Roberto Ramondo underlines, “is in our being a decisive partner for our clients, participating in engineering to planning, design to logistics”.

Tasso has conquered the market in a short time, becoming the sub-supplier of primary businesses that are active in different sectors: from the automotive sector to furnishing and design, from production machines to earth-moving vehicles. The strong point of Tasso, which likes to define itself as “industry serving industry”, is its ability to work side-by-side with its clients, developing personalized, turnkey solutions.

The group’s expected consolidated income for 2019, resulting from activities already represented, amounts to around 31 million Euros (15% of which was generated overseas), with an increase of around 15% compared to the equivalent indicator of the previous accounting period (around 27 million Euros in 2018). This is also thanks to the contributions of around 200 precious staff employed in the group, with an average age of around 40 years, and a team of excellent managers.

“At Tasso”, Roberto Ramondo recounts, “we want people to triumph and for them to be an active part of the business, so that the company’s success can be achieved as the result of teamwork”.

With this transaction, SACE SIMEST grows its operations in Abruzzo. In just 2018, the Hub mobilized more than 150 million Euros in the region to support around 500 companies' overseas projects. As far as regards export, Abruzzo is a region with an extremely positive growth trend that began in 2014. In 2018, it recorded +3.9% growth compared to the previous year, with almost 9 billion Euros in goods sold overseas.

Studio D’Incecco, Chartered Accountants of Pescara, led by Dr Alfredo D’Incecco, assisted the company as advisor on the financial structure of the transaction.

Documents

Would you like more information?
Contact us +39 06.6736.888 ufficio.stampa@sace.it

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