Duferco succesfully closes eur 105 million revolving credit facility

Duferco Participations Holding SA (“Duferco”) is pleased to announce the successful closing of a EUR 105 million Revolving Credit Facility (the “Facility”) in favour of its subsidiary DXT Commodities SA (“DXT”).

DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main (“DZ BANK”) acted as Coordinator in the Facility as well as Mandated Lead Arranger, Agent and ESG Agent. KfW IPEX–Bank GmbH acted as Mandated Lead Arranger.

“The closing of this Facility has been a success and strong vote of confidence in DXT Commodities during very volatile market conditions. We appreciated a lot the outstanding structuring and syndication capabilities of DZ BANK, as well as the support received from primary German and Austrian banks, and we are pleased also that this Facility has an ESG feature, which will allow DXT Commodities to consolidate its role as an energy transition facilitator,” said Maurizio Cencioni, CFO, DXT Commodities.

The Facility will be used for general corporate and working capital purposes, but mainly to support the growth of the business in Central and East-European countries and the issue of Off Balance Sheet Instruments (including ESG-related guarantees).

The participating banks or institutions in the Facility are as follows:

Coordinator:

  • DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main

Mandated Lead Arrangers:

  • DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main
  • KfW IPEX–Bank GmbH

Agent and ESG Agent:

  • DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main

Lead Arrangers:

  • Erste Group Bank AG
  • AKA Ausfuhrkredit-Gesellschaft mbH

 

President Antonio Gozzi joined the digital conference Finance and Strategy

Antonio Gozzi, Duferco Italia Holding’s president, joined the panel at the digital conference Finance and Strategy. The steel industry accelerates, organized by siderweb and BPER Banca, to discuss financing tools and opportunities offered by the banking system to the steel companies, particularly in a such a positive and expansive economic trend, which is characterized by growing production and increasing prices.

Joining the round table led by Lucio Dall’Angelo, siderweb’s general director, together with Stefano Vittorio Kuhn, BPER Banca’s Commercial Coordinator for Lombardy and Cesare Viganò, ArcelorMittal CLN Distribuzione Italia’s managing director, president Gozzi described the present and future of Duferco Group’s activities, the recovery after the backlash caused by 2020 pandemic crisis and the satisfying results reached in the first semester of 2021.

Discussing the situation of the Italian steel industry, then, he reaffirmed:

The Italian steel industry is a world example for decarbonization, but the 2030 and 2050 goals force further steps forward. Furthermore, when the European steel industry will follow along with the Italian and convert to the electric furnace, there will be further shortage of metal load. Therefore, it is very important to think and project now investments for plant for metal load in Italy.

 

Watch the digital conference:

Vittoria Gozzi joined the conference Accelerazione digitale

Vittoria Gozzi joined the panel of the conference Digital Acceleration: human, business and sustainability organized by siderweb, SAP Italia e Regesta. In the webinar led by Lucio Dall’Angelo, some of the steel industry key players debated the themes of innovation and digital humanism. After the welcome greetings by Emanuele Morandi, president of siderweb, Oscar Farinetti, entrepreneur, author and founder of Eataly and Green Pea, introduced the discussion with a speech about the change of paradimg and the digital humanism.

 

The following roundtable discussion was focused on digital and technological acceleration and the need for the steel sector to be more attractive for young digital talents. Together with Vittoria Gozzi, other key players of the steel industry shared their experiences and visions:  Bertha Bazzoffia, Sales Director SAP Italia, Barbara Beltrame, Vice President of Confindustria and member of the Board Gruppo of AFV Beltrame, Roberto de Miranda, member of Executive Committee of ORI Martin.

Recalling her first steps in the companies of Duferco Group and the creation of the startup incubator Wylab, Vittoria Gozzi shared her passion for digital entrepreneurship.

The theme of the digital entrepreneurship has always got my attention. Founding a sport startup incubator was a beautiful experience. It taught me a lot, especially for the relationships with digital entrepreneurs and startup founders, guys who launch innovative technologies and test business models every day on the market.

Later on, explaining the meaning of digital innovation for a highly differentiated group as Duferco, she highlighted the long-term work to enhance the enormous amount of data gathered from the commercial and industrial process.

In a highly differentiated group as Duferco, the level of digital and technological skills is very different: some companies and divisions base their competitive advantage and strength on digital processes, others, though being more traditional, have understood that digitization can help them keep their competitiveness.

When I and my brother joined the company, we built a task force, which is now a company itself, to give a digital support to the different divisions of the Group. Through a preliminary analysis we had indeed assessed a huge difference between companies with advanced digital skills and others needing a strong support. Therefore, the first goal of Duferco Dev was to fill the gap. It was a long work, but now we have a homogeneous level and a consistent database and can start the second phase: extract value out of data.  We are indeed creating a data scientists team to work on machine learning algorithms and support strategy.