Rome 23 July 2019 18:30
- The latest chapter of agreements, started last May between Leonardo, the national leader in the Aerospace, Defence and Security sector and the National Promotion Institute, has been completed with synergies extended to areas of the strategic supply chain, Leonardo’s investments, export finance and international cooperation
- The stronger collaboration will allow CDP to support Leonardo and its supply chain with a greater offer, which includes solutions for innovation, growth, internationalization, while accelerating the activities already supporting Italian SMEs
Cassa Depositi e Prestiti (CDP) and Leonardo have signed a Memorandum of Understanding (MoU) with the aim of reinforcing synergies and strengthening activities in support of the national leader in the aerospace sector and its supply chain. The MoU was signed today by Fabrizio Palermo, CDP’s CEO, and Alessandro Profumo, Leonardo’s CEO. New activities covered by the agreement include support to the strategic supply chain, Leonardo’s investments, export finance and international cooperation.
Specifically, Leonardo will be able to use CDP support for foreign sales of goods and services, thanks to financial help and/or the issuing of guarantees, and in potential investment initiatives for the development of new products and technologies. CDP will also support the development of Leonardo’s sustainable initiatives with high social-economic impact in developing countries.
CDP’s support of Leonardo’s supply chain will focus on studying and researching possible financial solutions for Leonardo’s strategic suppliers, utilising the current budget and medium–long term funding, and through the expansion of services offered by CDP.
Fabrizio Palermo, CDP CEO: “The agreement is in line with CDP’s new approach and business vision adopted with the 2019-2021 Business Plan. Thanks to the MoU we will be able to launch important synergies in support of Leonardo’s investments and competitiveness abroad, also through solid support to the Italian aerospace, defence and security supply chain.”
Alessandro Profumo, Leonardo CEO: “Today’s MoU expands our relationship with Cassa Depositi e Prestiti, extending collaboration to strategic areas for the development of our business, even in international markets. Strengthening synergies between two main players of the Italian economic system is a good example of the shared intention to support the growth of the ‘Country system’.”
The agreement includes establishing a Steering Committee made up of both Leonardo and CDP representatives to guide and monitor the progress of the shared activities.
Today’s MoU follows the previous agreements signed in May and June 2019 about collaboration between Leonardo and CDP in support of the supply chain of the main national industry in the Aerospace, Defence and Security sector (A,D&S). In the first MoU, Leonardo, CDP and ELITE – a Borsa Italiana company – agreed on a collaboration to study, research and evaluate possible solutions for Leonardo’s key suppliers, members of the “ELITE Leonardo Lounge”. The second MoU between Leonardo and CDP states that CDP, singularly or in partnership with banking institutes, will promote task forces with Leonardo to research and improve financing solutions for Leonardo’s key suppliers to support their activities and growth plans.
CDP, in line with its role as National Promotion Institute, fosters development in Italy, using the country’s savings responsibly to support growth and boost employment, supporting innovation, business competitiveness, infrastructure and local development. The 2019-2021 Business Plan will provide companies with 83 billion euro - over the three-year period – through an integrated offer focused on innovation, growth and internationalization. With the aim to expand the number of companies receiving support to 60,000, the project is being developed in strategic areas and offers tools such easy credit terms, export support and internationalization, alternative finance, support to access credit and interventions in equity.