Irritec strengthens its competitiveness in Mexico with the support of the CDP Group and SIMEST: “green-focused” capital increase

Irritec’s presence in Mexico is strengthened. The Sicilian company, world leader in the irrigation sector, with the support of SIMEST will proceed with the capital increase of Irritec México Sistemas de Riego based in Queretaro.

Irritec México, wholly owned by Irritec Group, has been operating in the local market since 2001, producing irrigation systems. In 2017, the company based in Queretaro reached a turnover of over 26 million euros.

The transaction further strengthens the partnership between Irritec and SACE SIMEST, supporting the group’s international growth since 2010 through four loans guaranteed by SACE and the entry of SIMEST in the capital of Irritec do Brazil in 2013.

The capital increase and the resulting new resources available will support the development plan of Irritec in Mexico, which is not limited to providing precision irrigation products. The key point of the plan will be the start of the new activity of recycling of used raw material, with consequent expansion of the current plant for storage needs, and the upgrading of the dripper line for greenhouse application.

Irritec has always worked in favor of the environment and, in order to minimize the environmental impact to impact, has decided to take care of its products throughout their life cycle. This is the primary objective of Green Fields, the project aimed at the disposal of driplines.

The program, already active in Mexico as well as in Italy and soon to be launched in other countries, embodies “the greenest soul” of the company, aiming at accompanying their products throughout their life cycle, from the realization to the disposal, sustainably safeguarding the environment while offering economic benefits to their customers.

Thanks to Green Fields, the farmers who, after having used it, correctly dispose of their driplines, receive a purchase voucher for Irritec brand products (if the product disposed of is Irritec product, the bonus doubles), as well as a certificate of correct management and disposal of irrigation products.

Below are the words of Irritec founder and CEO Carmelo Giuffrè: «The CDP Group Export Division has been a reference point for our international growth. Sace and Simest are decisive tools to face competitive challenges and seize opportunities, but they are above all a precious opportunity for Italian companies to aggregate in a strategic way and become a system».

 

SIMEST was founded in 1991 with the aim of promoting the internationalization of Italian companies and supports companies throughout their international development cycle, from the first evaluation of openness to a new market, to expansion through participation in foreign or Italian company capital. It operates through facilitated loans for internationalization, export credit, and risk capital participation.

IRRITEC was founded in 1974 in Sicily and is among the world’s microirrigation leaders. Irritec has 5 plants in Italy as well as production and commercial branches in Spain, Mexico, Brazil, the USA, Algeria, Germany and Chile. Irritec designs, manufactures and distributes products and complete systems for open field, greenhouse as well as residential irrigation. Irritec technology reaches over 100 countries all over the world. Through the reliability and expertise of over 700 employees all over the world, Irritec serves the farmers, distributors, wholesalers and retailers, from agriculture to gardening, from landscaping to heating and plumbing.