(Alliance News) - The pool of banks formed by Banco BPM Spa, Intesa Sanpaolo Spa and UniCredit Spa, assisted by SACE's SupportItalia Guarantee, has provided the Goglio Spa group, a leading company in the packaging sector, with a EUR45 million loan that will be used to optimize working capital management.

Goglio is a historic industrial group established in 1850 and the protagonist of a development that has led it to become an established reference point in the packaging sector. Headed for more than 60 years by Cavalier Franco Goglio, today it is an industrial reality with a turnover of more than EUR500 million and a global presence with production sites in the USA, China, the Netherlands and now also in Brazil.

"Over the years, the Goglio group has consistently dedicated resources and investments in the areas of research and development, while also maturing a great attention to environmental impacts that has led it to embark, years ago, on a path of emissions containment thanks to an investment in an energy cogenerator," the bank pool note reads.

Precisely with a view to sustainability, ESG targets are being defined as part of the financing and will be introduced during the amortization schedule.

Banco BPM's stock is up 1.5 percent to EUR4.56 per share, Intesa Sanpaolo's is up 0.8 percent to EUR2.63 per share, and UniCredit's is up 0.7 percent to EUR22.59 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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