Our selection of some of the best news of the last week from the Italian SME market. Here we will look at 4 companies: Assiteca, Enertronica, Gala, Overmach.
1) Policies On Agricultural Risks, Agreement Between Assiteca-Coldiretti
Assiteca, an Italian independent insurance broker with a portfolio of nearly €600m and listed on the AIM market of the Italian Stock Exchange has signed a framework agreement with Green Assicurazioni, Coldiretti’s broker of choice. Coldiretti is the leading organisation of farmers in Italy. The aim of the agreement is to offer a comprehensive insurance against the risk of hail and natural disasters.
2) Enertronica Announces Contract Extension With Italian Army
On Thursday 14 January Enertronica signed a contract extension for the supply of 106 Mobile Cooking Systems to the Italian Army. The original contract was first signed in October 2013 and the value of the contract was about €5 million, this has now been increased by €890,000 for the supply of 20 extra Mobile Cooking Systems. Enertronica is an Italian company operating in the field of renewable energy and it is listed on the AIM market of the Italian Stock Exchange.
3) Gala Vs Consip, The Dispute Over The Supply Of Electricity Heats Up
On Friday 14 January Gala, a small Italian energy company listed on AIM Italy, took legal action against Consip following the new regulation established by the Italian Parliament that came into force in 2016.
4) Intesa Sanpaolo Allocates Six Billion Euros To Boost Food & Agricultural Businesses
On Wednesday 13 January the Italian Ministry of Agricultural, Food and Forestry Policies and the banking Group Intesa Sanpaolo signed a partnership agreement. Over the next three years Italy’s second-biggest banking Group will allocate a six billion – Euro package of financial instruments for food and agricultural businesses. On the back of this agreement, the Italian Government aims to create 70,000 new jobs.
5) Overmach Strengthen Its Market Position In UAE
Parma based Overmach, an Italian producer and seller of CNC machine tools for metal working, acquired Dubai-based Passtech Machine Tools, a company that has been operating in the Middle East for 20 years. Passtech has a branch in Riyadh (Saudi Arabia).
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