More than 8.5 million euros are the resources that Finpiemonte Partecipazioni will invest directly in the Piedmont productive system. This investment was endorsed at the partners’ meeting called today by President Paul Marchioni for approving the capital increase.
The meeting decided the Company's capital increase, following the implementation project of subsiadiaries companies enacted by the Piedmont Region on 19 December. Through this project, nine companies have been transferred to Finpiemonte Partecipazioni (CAAT, Città studi, Expo Piemonte, GEAC, Icarus, MIAC, SACE, Sagat and Terme di Acqui) for a total of 54 million euros.
Thanks to this transaction, the Finpiemonte Partecipazioni's capital which currently has more than 40 million of euros, could reach about 76 million of euros. Compared to the social stock, the KPMG advisor has valued the regional holding's value at around 85 million euros.
The capital increase is the main project of a economic recovery of the territory intended to recover resources for Piedmont growth and development. Over the next three years - says Paul Marchioni, the Finpiemonte Partecipazioni’s chairman - the Company will be involved in investments that will strengthen the existing infrastructure and create new jobs. Especially in strategic sectors such as renewable energy, for which is expected the incorporation of newcos.
The 2012-2014 business plan has rewarded in particular logistics and transport areas as well as environment and energy ones. In fact, in 2011 these areas will enable meaningful profit sharings.
The capital increase approved today - said Elena Maccanti, Commissioner for Relations with Regional Subsidiaries Companies - represents an important step, in order to optimize resources and reinvest for the Piedmont production system. It is also an important intervention realised by the Cota Governement which has implied bold choices. The investment policy over renewable energy areas foreseen in the Finpiemonte Partecipazioni business plan is a strategic asset for the Piedmont Region. From the economic point of view we expect results from those companies operating in the renewable energy areas. While, concerning employment, we trust in companies operating in the integrated logistic sector which also have shown quite dynamism during this year.