Directa Plus Subsidiary Qualifies for EUR700,000 in Italian Government Loans

By Anthony O. Goriainoff

Directa Plus PLC said Monday that its Italian subsidiary, Directa Plus SpA, has qualified for 700,000 euros ($830,795) in loans under the Italian government's Covid-19 recovery plan.

Directa Plus, an Italy-based, U.K.-listed supplier of graphene-based products, said the funds will be available from Intesa Sanpaolo SpA in two tranches: an initial EUR500,000 loan and a further EUR200,000 leasing loan to fund the acquisition of new machinery for its production facility.

The loans are 80% to 90% guaranteed by the Italian government, and it is negotiating for an additional EUR500,000 loan with another Italian bank, the company said.

Directa Plus said it took advantage of the low-cost liquidity offered by the Italian government to accelerate its strategic program.

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

(END) Dow Jones Newswires

August 02, 2021 03:02 ET (07:02 GMT)

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