Agricultural machinery: Mps support Ama with Italy Sace Guarantee
2 million to face the decline in activity due to Covid
Ama puts 2 million in a loan from Monte Paschi di Siena bank with Sace's Italy Guarantee. The leading Italian company in the supply of components for the preparation and maintenance of Off Highway Vehicles (OHV), agricultural machinery and for the care of the green, has signed the loan with Monte dei Paschi di Siena which is guaranteed in a short time by Sace through the instrument of the Liquidity Decree intended to support Italian companies affected by the Covid-19 emergency. The structured operation, with a duration of 6 years, will allow the company to cope with the increased need for cash and current due to the slowdown in deliveries due to the Covid emergency. The liquidity obtained will also be used to support the company's investments in research, development and innovation.
The Ama Group boasts 80,000 active customers in 90 countries and over 1200 employees, active in 12 production plants in Italy and 4 abroad, with 15 distribution branches around the world, 7 points of sale and 5 representative offices. Chief Executive Officer Alesando Malavolti stated that the loan obtained "is a very important tool that will support our company in an unstable period marked by the Covid emergency and will allow us to continue with the investments envisaged in the industrial plan".
“Our country - commented Sace Central-North Mid Corporate Manager Marco Mercurio - is a world leader in the production of agricultural machinery. With this operation, of which we are proud, we support the investment plans of a company that represents an all-Italian excellence in a very strategic sector. Thanks to our intervention, Ama SpA will be able to continue investing in Italy despite the complex moment like the present".
“This operation is part of the concrete support actions for the territory implemented by Banca MPS in this delicate phase of our country - said Donatella Vernisi, General Manager of the North East Territorial Area of Banca MPS -. The loan will allow an important entrepreneurial reality, which has already been able to stand out and excel on foreign markets, to strengthen its leadership with benefits for all related industries, creating value for the reference communities and supporting the local economy, contributing to the recovery of the national economic fabric".
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