The company, specialized in designing machines and hi-tech plants for the food industry, issued a 1 million euro mini-bond which was entirely subscribed by the bank.
Banca Sella assisted CTI FoodTech – the Salerno based Italian society who designs and develops machines for the food processing industry, especially peach and apricot pitters – with the issue of a mini bond loan of a one million euro total value destined to find financial resources with the purpose of supporting the company’s investment projects, as well as supporting the working capital needs deriving from the increased turnover.
Banca Sella, through its Corporate & Investment Banking division, has joined the society in the activity of structuring the bond, acting as arranger of the operation and assisting CTI FoodTech with institutional relationships with Italian Stock Exchange and Equities Mount, as well as with the preparatory activities preceding the positive outcome of the mini-bond exchange listing on the professional segment ExtraMot PRO, managed by Italian Exchange.
The issue was entirely subscribed by Banca Sella and enjoys a InnovFin guarantee, released by European Investment Fund.
“CTI FoodTech is a company – says Gennaro Crescenzo, responsible of Banca Sella’s South Territory – our bank had an opportunity to meet at the Best Practices Award for Innovation of Confindustria Salerno, which we have been partnering with for several years and where we have always followed new businesses with a high innovation potential, making our competences and our consulting services available to them. This operation represents the first step of a development path begun by the company – says Crescenzo – aimed at a further growth on target markets, consisting for 95% in foreign markets, with the goal of increasing productive capacity expanding the number of machines produced and of continuing to invest in developing new technological solutions.”
“I wish to thank Banca Sella – explains CTI FoodTech CEO Biagio Crescenzo – for assisting us with this mini-bond issue. This operation will allow us to continue our business growth path, always focused on hi-tech projects. During our activity, we achieved more than 100 patents in 20 countries. In recent years we have developed advanced industrial products, anticipating Industry 4.0, which won the most prestigious international awards of the sector. All our machines are produced in a new 4.0 plant”.
Based in Salerno but with a global market penetration, CTI FoodTech can offer consulting, design, manufacture of complete plants and production lines layouts, following all the development phases. With more than 600 production lines installed and functioning at food processing plants all over the five continents, the society currently occupies the second spot in the world among producers of peach pitting machines for number of units installed and amount of processed fruits.