Transaction details

Ethica Debt Advisory assisted the Cornaglia Group in obtaining a grant and a subsidized loan from the Ministry of Economic Development

Officine Metallurgiche Cornaglia develops advanced technological solutions for the automotive industry with reference to air intake systems and metal molding. The Group employs around 1000 people in its factories in Italy, Poland, Romania, Turkey, Canada, Brazil and India.

The funding granted by the Ministry of Economic Development, consisting of a subsidized loan and a non-repayable grant, are aimed at supporting an articulated industrial research and experimental development program planned for the three-year period 2021-2023. The facility was granted under the “Sustainable Growth Fund” pursuant the 2019 “Sustainable Industry Call”.

The project is aimed at the research and development of innovative solutions to be implemented on the off-road vehicles, through the use of advanced materials and thanks to the use of advanced production systems, in order to limit the environmental impact, to reduce the pollutants in the emissions and ensure greater flexibility in the installation of the system.