Together with SIMEST (CDP Group) Tecnocap metal packaging reaches Asia
Rome, 2 July 2021 – SIMEST (CDP Group) supports the process of reinforcement in India and in the Asian area of Tecnocap Group, third global manufacturer of metal packaging and capping machines intended for vacuum-packed food and beverages as well as worldwide producer of aluminum aerosol bottles and cans.
Through the participation in the social capital increase and, consequently, in the provision of such capitals thanks to shareholders’ loans of 2.7 million euros – of which 1.5 millions aimed at the Venture Capital Fund, managed by the Foreign Ministry and the International cooperation – SIMEST, with a share of 20%, will soon be a minority shareholder of Tecnocap Indian Oriental Pvt. Ltd, the newly formed facility in partnership with Oricon Enterprises Ltd Group, better known as Oriental Container, listed on the Mumbai Exchange.
The investment will allow Tecnocap to realize a new implant for the production of metal closures intended for the local market and, in the long term, for the whole Asian area. Thus, the Asian market presents crucial growth prospects, due to the growing attention given to matters such as the fight against food waste and the correct preservation and safety of the products.
The operation consolidates the partnership between Tecnocap and SIMEST, firstly started on the American market and consequently on the European one, in Czech Republic.
“The entrance in the Indian and Far East markets represents an important chapter of our international growth strategy” stated Michelangelo Morlicchio, CEO of Tecnocap Group, who then added, “Such operation confirms the strategic partnership with SIMEST, our precious partner who shares our vision and allows dynamic corporations – such as ours – to catch important opportunities in markets with an elevated growth potential as well as to create crucial partnerships as to operate successfully”.
“Tecnocap is an Italian excellence, global leader in the metal packaging field, which has always invested in the research and development, in sustainability and in the international growth”. This is what the CEO of SIMEST, Mauro Alfonso, claimed. “This expansion operation, regarding the Asian area, is only one of the pieces of the partnership which has been linking us to Tecnocap for 15 years, with projects of growth firstly in North America and then in Eastern Europe. We are elated to be able to keep on supporting Tecnocap, especially in such a moment, full of discontinuity, which can provide opportunities to several corporations – also small and medium, dynamic and reactive ones – which are interested in occupying new positions in the international arena, accelerating their acquisitive policy”.