UniCredit and SACE support Reply’s (VeneVision Group) sustainable development plans

Structured financial intervention to support circular economy-related investments initiated by Treviso-based company supplying major global eyewear players


Economy - published on 14 February 2024


https://www.trevisobellunosystem.com/wp-content/uploads/2024/02/venevision.jpg

Source: press office Venevision

UniCredit and SACE support the sustainable development plans launched by Reply, a company with a 30-year history and based in Pederobba (TV), specialized in the production of small metal parts and precision components, especially for the eyewear sector, but also for costume jewelry, fashion accessories and medical; an industrial reality afferent to VeneVision, an eyewear cluster part of the VeNetWork group.

More in detail, the support intervention took the form of a new loan of more than one million euros, with Green guarantee intervention by SACE, linked to the admission of the Venetian company to the PNRR call “Sustainable Investments 4.0,” focused on ESG issues and in particular on the circular economy.

The funds made available will go to finance interventions aimed at improving the efficiency and sustainability of the entire production process: from the inclusion of machinery and plants with high recycling of raw and secondary materials, to the adoption of a process for the recovery of thermal energy from machinery and its reuse for space heating; from the optimization of production processes with high electricity savings and improvement of the quality of the working environment to the use of a washing plant with continuous water recycling.

Reply was acquired in 2021 by VeneVision, a leading Made-in-Italy eyewear company, itself founded in 2020 and now comprising seven investee companies (in addition to Reply, Tris Ottica, Ottica Prealpi, Fotomeccanica, Eurofin, Tricolor, CiDi), with a turnover as of June 2023 of 39.6 million euros, a workforce of more than 500 and export volumes of more than 11 million euros.

SACE plays a leading role in Italy’s green transition. In fact, the company can issue green guarantees on domestic projects that can facilitate the transition to an economy with a lower environmental impact, integrate production cycles with low-emission technologies for the production of sustainable goods and services, and promote initiatives aimed at developing a new mobility with lower polluting emissions. This operation, carried out thanks to synergies with the SACE Network, is part of the green agreement with UniCredit, in which SACE intervenes with a guarantee to cover financing intended both for large industrial reconversion projects and for SMEs and corporate MIDs that intend to reduce their environmental impact and start a sustainable transformation.

Declares Nicola Belli, CEO of VeneVision and director of ReplyAll the companies in our group are involved in a challenging and virtuous path of continuous improvement of sustainability parameters with respect to the goals set by the European Community for 2030. The reduction of environmental impact, particularly for energy and water components, and the digitization of production processes with a view to creating more efficient lean flows, are closely linked to policies of investment in cutting-edge technologies. The support of Unicredit and Sace allows us to access financial instruments dedicated to these development paths.

Declares Francesco Iannella, Regional Manager Northeast of UniCredit Reconciling sustainability, competitiveness and attention to the territory in which one operates is not only possible, but is a success factor, as the recent history of Reply and the VeneVision group demonstrates. Our financial support intervention is the child of the common attention, between bank and company, towards sustainability issues and represents concrete proof, yet another, of UniCredit’s willingness to accompany northeastern companies towards green and digital transition paths.

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