CDP supports Tecnocap: a world leader in metal packaging
CDP Basket Bond strengthen the Campania-based company’s internationalisation process.
Tecnocap is the largest metal packaging manufacturer in Italy and the third largest in the world. It has a total annual production volume of over 4 billion metal caps and had a turnover of 160 million in 2019, 70% of which came from abroad. Its packaging products are essential the food and beverage, cosmetics and pharmaceutical sectors, and have various other applications.
The Group headquarters are in Cava de’ Tirreni, in the province of Salerno, where the company was founded in 1993. The area is an example of Italy’s industrial South. From here, Tecnocap has built a presence in over one hundred foreign markets, with its sales network and production units. It currently has 8 factories and 3 research and development centres, employing around 900 people.
The company started its internationalisation process in 2003, which took it to many foreign markets. Since then, it has needed to mobilise significant ordinary and extraordinary financial resources. For this reason Tecnocap, a company certified by the ELITE – Borsa Italiana programme, joined the first ELITE Basket Bond financial transaction system in 2017, through the issue of a 10-year bond. In this context, the Cassa Depositi e Prestiti’s involvement set off a leverage process that was crucial for carrying out the planned investments.
Tecnocap’s current objective is to develop agreements with major international players and to reach a 200 million euro turnover in two years. This will require additional extraordinary financing and the Group hopes to carry on the work done to date with CDP.
Cassa Depositi e Prestiti’s involvement is possible because of the internationalisation and innovation aspects. As explained in the 2019-2021 Business Plan, CDP has always been interested in major growth projects of Italian companies, which contribute to the competitiveness of their local regions and act as ambassadors for Made in Italy manufacturing at the same time.