{"id":2921,"date":"2021-08-18T12:06:38","date_gmt":"2021-08-18T09:06:38","guid":{"rendered":"http:\/\/www.eximbank.ro\/en\/?p=2921"},"modified":"2021-08-18T12:06:38","modified_gmt":"2021-08-18T09:06:38","slug":"eximbank-grants-a-5-million-euro-financing-facility-to-italsofa-romania","status":"publish","type":"post","link":"https:\/\/www.eximbank.ro\/en\/2021\/08\/18\/eximbank-grants-a-5-million-euro-financing-facility-to-italsofa-romania\/","title":{"rendered":"EximBank grants a 5 Million Euro financing facility to Italsofa Romania"},"content":{"rendered":"\n<p><strong>Bucharest, 18 August 2021<\/strong> \u2013 EximBank has granted a 5 Million Eur\nfinancing facility to Italsofa Romania, one of the largest companies in\nfurniture industry in Romania. The funds will cover the necessary liquidity for\ncurrent business and have been guaranteed by a state aid guarantee issued under\nthe Governmental Program for supporting large companies impacted by COVID-19\npandemic. The guarantee covers 90% of the loan.<\/p>\n\n\n\n<p>\u201eConcluding this financial agreement is a\nnatural follow up of the partnership between EximBank and Italsofa a solid\nrelationship based on our capacity of identifying tailored financial solutions\ncombined with the company\u2019s sustainable business potential. The integrated facility completes the areas that we have covered in\nthe past and we are glad that we can supply to one of the most important\nplayers in furniture industry the necessary funding for maintaining the active\nproduction chain by securing the liquidity needed for current business.\u201d, said Traian Halalai, Executive President of EximBank.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"454\" src=\"https:\/\/www.eximbank.ro\/en\/wp-content\/uploads\/2021\/08\/Italsofa1.jpg\" alt=\"\" class=\"wp-image-2922\" srcset=\"\/wp-content\/uploads\/2021\/08\/Italsofa1.jpg 680w, \/wp-content\/uploads\/2021\/08\/Italsofa1-300x200.jpg 300w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/figure>\n\n\n\n<p>The highly\nunpredictable economic pandemic context &#8211; that impacted both the distribution\nand supply chains- represented the main challenge for the furniture\nmanufacturer that implemented several measures to overcome the situation such\nas costs reduction and strategic improvement of the sales and acquisition\nprocesses. &nbsp;<\/p>\n\n\n\n<p>As a result of these\nstrategic efforts, Italsofa Romania\nrecovered the sales decrease registered during the pandemic and estimates for\nthis year an increase of the turnover despite the pressure on the respective\nindustry determined by the increased prices of the materials. <\/p>\n\n\n\n<p>\u201eAfter\ntwenty years in Romania, Italsofa Romania continues to be a strategic asset on\nwhich Natuzzi continues to invest. The Group order flow in Europe continues to\nbe very solid and the industrial capabilities built up in Romania are even more\nimportant than in the past to serve the growth in EMEAI area. Natuzzi is very\npleased by the new financing facility granted by EximBank that sustains such\ninvestment and the positive cash flow that the Company is achieving in this\nchallenging period.\u201d, said Francesco Stasolla,\nManaging&nbsp;Director&nbsp;Italsofa Romania<\/p>\n\n\n\n<p><strong>About Italsofa Romania<\/strong><\/p>\n\n\n\n<p>ITALSOFA ROMANIA, established in\n2001 with an overall investment of more than \u20ac 38 million by the Natuzzi Group,\nowns a 76.000 sqm manufacturing facility in Baia Mare, and employs more than 1.000\npersons. The factory produces sofas and semi-finished wood products and exports\nmore than 90% of its production. In 2020 ITALSOFA ROMANIA registered a total\nturnover of 241 Million Lei and profits amounting to 7.8 Million Lei. &nbsp;Natuzzi S.p.A. (\u201cNatuzzi\u201d and together with\nits subsidiaries, the \u201cNatuzzi Group\u201d), founded in 1959 by Pasquale Natuzzi, is\none of the most renowned brands in the production and distribution of design\nand luxury furniture.&nbsp; With a global\nretail network of 550 mono-brand stores, in addition to galleries, Natuzzi\ndistributes its collections worldwide.&nbsp;\nNatuzzi products embed the finest spirit of Italian design and the\nunique craftmanship details of the \u201cMade in Italy\u201d, where a predominant part of\nits production takes place. Natuzzi has been listed on the New York Stock\nExchange since May 13, 1993. Always committed to social responsibility and\nenvironmental sustainability, Natuzzi S.p.A. is ISO 9001 and 14001 certified\n(Quality and Environment), ISO 45001 certified (Safety on the Workplace) and\nFSC\u00ae certified (Forest Stewardship Council). Currently the Group owns\nmanufacturing units in Romania, China, Brazil, and Italy, employs more than\n4.600 persons and has a retail network covering more than 100 countries.<\/p>\n\n\n\n<p><strong>About EximBank<\/strong><\/p>\n\n\n\n<p>EximBank is a specialized institution that is actively involved in supporting and promoting the Romanian business environment. Its financial instruments are dedicated exclusively to the corporate segment and can be accessed in advantageous conditions by any type of company, whether it is an SME or a large company, conducts international transactions, or addresses the domestic market. The companies also have at their disposal a competitive portfolio of treasury, cash management, trade finance and factoring products, which complete the financing and guarantee offer. At the same time, because it acts as an agent representing the state on the guarantees and insurance market, EximBank is one of the instruments through which public funds, made available by the Romanian state, support the sustainable development of the economy. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bucharest, 18 August 2021 \u2013 EximBank has granted a 5 Million Eur financing facility to Italsofa Romania, one of the largest companies in furniture industry in Romania. The funds will cover the necessary liquidity for current business and have been guaranteed by a state aid guarantee issued under the Governmental Program for supporting large companies [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[41,43],"tags":[],"class_list":["post-2921","post","type-post","status-publish","format-standard","hentry","category-news","category-press-release"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>EximBank grants a 5 Million Euro financing facility to Italsofa Romania - Exim - Banca Romaneasca<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.eximbank.ro\/en\/2021\/08\/18\/eximbank-grants-a-5-million-euro-financing-facility-to-italsofa-romania\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EximBank grants a 5 Million Euro financing facility to Italsofa Romania - Exim - Banca Romaneasca\" \/>\n<meta property=\"og:description\" content=\"Bucharest, 18 August 2021 \u2013 EximBank has granted a 5 Million Eur financing facility to Italsofa Romania, one of the largest companies in furniture industry in Romania. 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