Ethica Group, with the Debt Advisory team, assisted the Cornaglia Group in obtaining grants and a subsidized loan from the Ministry of Economic Development and the Piedmont Region.
Officine Metallurgiche Cornaglia develops advanced technological solutions for the automotive world, with particular reference to exhaust, intake and metal stamping systems. The Group has around 1000 employees located in Italy, Poland, Romania, Turkey, Canada, Brazil and India.
The concessions granted by the Ministry of Economic Development, consisting of a subsidized loan and a non-repayable grant, are dedicated to supporting a R&D program aimed at enhancing the use of recycled materials in the production of plastic components in a circular economy perspective.
The subsidies granted by the Piedmont Region, in the form of a non-repayable grant, are instead in support of an R&D project aimed at studying pollutant abatement technologies based on hydrogen systems and high-efficiency after-treatment.