(Alliance News) - Circle Spa announced Wednesday the establishment of the Italian-registered company Next Customs Spa dedicated to digital customs optimization services.

The company, with a share capital of EUR10,000, is 51 percent owned by Circle and administered by Luca Abatello.

Luca Abatello, president & CEO of Circle Group, explains the decision to further focus on the development of innovative customs services through the NewCo as follows: "We believe that the customs topic is strongly strategic for the evolution of the Connect 4 Agile Growth path and we perceive a strong demand, from the market, for innovative services that can offer a complete and harmonized vision of the new regulatory scenarios, both at national and European level."

The newly established is instrumental in the continuation of initiatives aimed at harmonizing customs processes, ensuring a more efficient, quicker and streamlined transportation and logistics flow, as well as naturally complying with current customs regulations and further simplifications being approved, as well as prospective targeting with respect to the proposed reform of the European Customs Code being discussed in recent months, including the new Carbon Border Adjustment Mechanism regulation.

Circle's stock closed Wednesday up 0.8 percent at EUR6.45 per share.

By Chiara Bruschi, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2024 Alliance News IS Italian Service Ltd. All rights reserved.