EXPORT-IMPORT BANK IF WASHINGTON

PRESS RELEASE I PRESS RELEASE

October 16, 1947

JPLR IMMEDIATE RELEASE, CCTCBER 16, 1947

Within the framework of the understandings reached in January 1947

earmarking $100 million for the restoration and expansion of foreign trade,

the Board of Directors of the Export-Import Bank have approved the

establishment in favor of Istituto Mrbiliare Italian©, an Italian public

credit institution, of four lines of credit:

a) $3,210,000 for 9 medium-sized chemical concerns?

b) $1,410,000 for 5 medium-sized rubber concernsj

c) $8,030,000 for 14 electro-mechanical concerns;

d) $19,350,000 for 32 medium-sized metallurgical concerns.

A list of the firms which will benefit from the approved credits

! under each of the above sectors is attached.

The present lines of credit approved by the Bank supplement those

previously extended to large Italian concerns in the same four industrial

sectors. Medium and small-sized firms play a very important role in the

economy of and in her foreign trade relations. Among the medium-

sized industrial concerns to benefit from the credits just approved by

the Bank are many manufacturers well-known both in Italy and abroad for

the quality of their products. A substantial number of these medium-

sized firms suffered little war damage and were early in starting the

resumption of their foreign trade relations; large foreign orders are to be - 2 -

met by such firms in the next two years.

The credits approved by the Board are designed to permit these

I 60 medium-sized concerns to purchase equipment and materials in the

United States so as to enable them to fill their foreign orders and at

the same time to assist in supplying the Italian market with their

products.

Attachment

J1X09/700 iJ";. **9 ATTACHMENT m CHEMICAL SECTOR: Total Credits Approved: $3.210.000

Names of beneficiary firms

Solvay & C. Soc. In Ace. Sempl. - Rossignano - (Livorno)

Industrie Chimiche Minio Murano Barbini - Venezia -

Carlo Erba S. p. A. - Milano

Soc. Elettrica ed Elettrochimica del Caffaro - Milano

Fabbriche Riunite Amido Glucosio Destrina S. A, - Milano

;SDC. Ital. della Celluloide - Castiglione Olona -

S. A. Ledoga - Milano

Bombrini Parodi Delfino - Roma

Istituto Naz. Medico Farmacologico Serono - Roma -

2, RUBBER SECTlR: Total Credits Approved: Jl.AlO.OOO

Names of beneficiary firms

Michelin Italiana (S.A.M.I.) - Torino

Superga S.p.A. Fabbriche Riunite Industria Gomma - Torino -

Soc. del Linoleum S.p.A. - Milano

A.G.A. Articoli Gomma Affini Soc. a R.L. - Milano -

S.A.P.S.A. - Soc. Applicazioni Plastiche SALPA Affini S.p.A. - Sesto S. Giovanni -

3. ELECTRC-MECHANICAL SECTOR: Total Credits Approved $8.030.000

Names of beneficiary firms

Ducati Soc, Sc. Radio Brevetti Ducati S.p.A. - Milano -

Compagnia Generale di Elettricita, Milano

Fabbrica It. S.p.A. - Milano

SAFAR Soc. An. Fabbr. Aparecchi RadiofJ - Milano - - 2 -

3. ELECTRo-MECHANICAL SECTOR (Continued )

Ercole Marelli S.p.A. - Milano -

Autelco Mediterranea SATAPSA - Milano -

Magrini S.A. - Bergamo -

S.A. Microtecnica - Torino -

Ind. Naz. Cavi Elettrici 1NCET - Torino -

CEAT S.p.A. - Roma -

ICEF Ind, Condutt. Elettr. Fiorentina S.p.A. - Sesto Fiorentino -

SICE - Conduttori Elettrici S.p.A. - LIvorno -

FICE - Fabbr. It. Condutt. Elettrici S.p.A. - Napoli -

Fongaro Conduttori Elettrici S.p.A. - Milano

4. METALLURGICAL AND MECHANICAL SECTlR: Total Credits Approved $19.000.000

Names of beneficiary firms

La Magona d'ltalia-S.p.A. - Firenze -

Nazionale "Cogne" S.p.A. - Torino

Societa Italiana Ernesto Breda, Milano

S.A.V.A. Soc. Alluminio Veneto Anonima - Venezia -

A Tonolli & C. - Milano -

Lancia S.p.A. - Torino -

Alfa-Romeo - S.p.A. - Milano

Fabbrica Automobili S.p.A. - Milano -

CM. - S.p.A. - Brescia

Aereonautica Macchi - S.p.A. - Milano ,

Soc. Naz, kfficine di Savigliano - Torino - - 3 -

4. METALLURGICAL AND MECHANICAL 'SECTiR (Continued)

S.A.B.I.E.M.-S.A. Bolognese Ind, Elettro Meccaniche e Fonderie Parenti-Bologna -

(.TIS, Ascensori e Montacarichi Soc, An. It. - Napoli -

Lombardini, Fabbrica Italiana Motori - S.p.A. - Reggio Em.

Soc, Galileo S.A. - Firenze

Ing. C. tlivetti & C, S.p.A. - Ivrea -

San Giorgio, S.I.p.A., Genova - Sestri

Nebiolo S.p.A. - Torino -

Fabbrica It, Lime di Precisione - F.I.L.P. - Torino - F.lli Borletti S.p.A. - Milano Caproni Elettr. Saronno S.A. (CEMSA) - Milano - "Reggiane" Off. Mecc. Ital. S.A. - Reggio Emilia - F.lli Marzoli & C. - Palazzolo sull'tglio -

RIV - tfficine di Villar Perosa - Torino - S.p.A. & C. - Genova - Soc. Gen. Ind. Metallurgica e Meccanica S.p.A. - Roma Cantieri del Tirreno - Genova Cantiere Havale Breda S.p.A. - Venezia - Lfficine del Moncenisio - Torino - Franco Tosi S.p.A. - Milano Cantieri Mavali Riuniti - Genova -

Compagnia Italiana Westinghouse - Torino