Ethica Debt Advisory assisted the Cornaglia Group in obtaining a subsidized loan and a non-repayable grant from the Ministry of Economic Development
Cornaglia Officine Metallurgiche develops advanced technological solutions for the automotive world with particular reference to exhaust, suction and metal stamping systems. The Group has over 1000 employees located in its plants in Italy, Poland, Romania, Turkey, Canada, and India.
The concessions granted by the Ministry of Economic Development, consisting of a subsidized loan and a non-repayable grant, are aimed at supporting a complex program of industrial research and experimental development planned for the three-year period 2018-2020. The subsidy was granted on the Sustainable Growth Fund pursuant to Legislative Decree no. of October 15, 2014 – Sustainable Industry Call.
The project will allow the company to acquire new knowledge necessary for the development of an innovative integrated exhaust system that allows for an overall reduction in consumption in line with the European regulatory standards that regulate the polluting emissions of vehicles.