New investments of the North-Eastern financial company for internationalization approved in March 2020 and assistance to maintain productivity during the global crisis Covid-19
Pordenone, March 31, 2020 - From the privileged observatory of Finest S.p.A. on the economy of the Northeast and its extensions on international markets, there is a strong desire of companies in our area to keep their international commercial and production networks viable, in an economic context that sees each country forced to differentiated responses based on its specific health situation.
In this critical context, the role of an institution such as Finest, the financial company for the internationalization of the Northeast, with headquarters in Pordenone and offices in Padua and Moscow, becomes even more crucial: keeping the value chains of our businesses alive means defending not only an economic, but also and above all a social interest, by supporting the income and the future of workers and their families.
For this reason Finest responded to this situation in an even stronger way: the technical structure of the company continues to work daily to assist our partner companies, sharing with their management assessments that allow the sustainability of the various activities and offering operational support to all those entrepreneurs who cannot currently reach their foreign factories.. Equity investment and foreign direct financing activities are also continuing at full speed: in March, the Board of Directors approved new internationalization operations alongside local businesses.
To date, the finance company has a portfolio of 64 foreign subsidiaries promoted by Northeast companies distributed in a territory that goes from Central-Eastern and Balkan Europe to the Russian Federation and the CIS countries, from the Baltic to the Med countries, for a total exposure of over 97 million euros; in 2019 it disbursed more than 29 million euros and is working on an important pipeline, which involves SMEs and companies of strategic value for Friuli Venezia Giulia, Veneto and Trentino Alto Adige.
"The Italian companies with which we co-invest abroad have a total turnover of more than 8 billion euros, the result of the sacrifices and work of entrepreneurs from the Northeast - declares the President of Finest Alessandro Minon -; our commitment goes all in defense of this patrimony of excellence and competence and we do it as an investor partner for purposes of public utility. When the epidemiological emergency will be under control again, the foreign networks that we have built together with our companies in over 25 years of internationalization will be crucial to restore the export flows on which our economy is based. The direct presence on the international markets will represent a significant competitive advantage for our companies: through on-site production it will be possible to reach the internal markets despite the current restrictions, on whose duration it is difficult to make predictions. Today, having a regional financial system for internationalization is a great advantage for our regions ", concludes the President.