Ethica Debt Advisory advised SOL S.p.A. in obtaining a non-repayable grant and a subsidized financing granted by the Ministry of Economic Development
Ethica Debt Advisory advised SOL, a company active in the production of technical gases, in obtaining a non-repayable grant and a subsidized financing granted by the Ministry of Economic Development through the signing of a Development Contract.
SOL is an Italian company listed on the Milan Stock Exchange, leader in Italy in the production and marketing of technical and industrial gases, both special and medicinal. In 2016 Sol reported a consolidated turnover of approximately 700€M and employs around 3.100 people.
The financing is intended to support the company’s development plans: the construction of 3 new plants, 2 of which in the chemical center of Augusta (nearby Syracuse) to produce technical gases in gaseous and liquefied form and 1 in Pignataro Maggiore (nearby Caserta) for the testing and maintenance of the cylinders. The project is expected to be completed by December 2018.
Aldo Fumagalli Romario, Chairman and CEO, commented: “The Group is proud to have obtained approval from the Ministry of Economic Development for such an investment plan, a sign of trust in our company as well as in our willingness and ability to investing in our country and in particular in the south, with innovative plants as basis to strengthen the surrounding industrial and economic fabric, increasing also its competitiveness “.