Cornaglia’

Ethica Group with the Cornaglia Group in obtaining non-repayable contributions and subsidized financing

Ethica Group, with the Debt Advisory team, assisted Gruppo Cornaglia in obtaining non-repayable contributions and subsidized financing from the Ministry of Business and Made in Italy and the Piedmont Region.

Cornaglia develops advanced technological solutions for the automotive world, with particular reference to exhaust and intake systems and metal stamping. The Group has approximately 1000 employees located at its factories in Italy, Poland, Romania, Turkey, Canada, Brazil and India. The benefits granted by the Ministry of Business and Made in Italy, in the form of a non-repayable contribution, are aimed at supporting a research and development program aimed at the development of an innovative industrial process for the production of thermal conditioning systems for batteries for electric and hybrid traction vehicles.

The benefits granted by the Piedmont Region, consisting of a subsidized loan and a non-repayable contribution, are instead in support of a series of interventions aimed at the energy efficiency of the buildings of its production plants located in Piedmont.