In mid-February 2019, Mr. Jan Ferenc and other members of FERMAT’s sales team journeyed to the temperate climes of Italy. Although manufacturing is abuzz, it doesn’t create a fast-and-loose sprawl of scurrying activity, or crushing might. It’s not a rough and unwieldy giant walking across the landscape. Instead, its integration in Italy’s economy, in almost every aspect of its business, industry, trade is quite thorough and amazingly surreptitious, affording very few pockets of gritty industrial zones glamorous only to connoisseurs of heavy industry like FERMAT. Nonetheless, it manifests itself proudly the country’s economic data and it’s decidedly more modern than expected. Machine tool manufacturers are kept busy meeting demand, especially for high-end, modern products designed for advanced manufacturing.
A major hub of advanced manufacturing
According to Export.gov, a website offering comprehensive website maintained by the U.S. Department of Commerce’s International Trade Administration in collaboration with 19 U.S. Government agencies, Italy’s economic reports paint a vibrant manufacturing landscape:
Italy is the second most important manufacturing country in Europe with an extraordinary know-how in strategic sectors such as machine tools, fashion, foodstuffs, automotive and pharmaceuticals. Manufacturing accounts for 23.6 per cent of the GDP of Italy. In the current phase of moderate economic recovery, Italy continues to maintain the fifth highest manufacturing trade surplus in the world, amounting to approximately $63.2 billion.
That’s right 23.6% of the country’s GDP springs from manufacturing. Moreover, the government’s fostering growth through a raft of financial initiatives considered “the most advanced and comprehensive” developed by any large European country. As stated by Export.gov, it “consists of €13.5 billion in tax breaks for investments to be performed until end – year 2018, to reach €20.4 billion cumulated with additional resources that span the 2017 – 2020 timeframe.” Furthermore, the tax breaks should spur “private investments worth €23.9 billion in the above-mentioned timeframe. Its beneficiaries are Italian firms and foreign firms that have operations in Italy, regardless of sector and company type and size.”
Over the hills and around the lake
Mr. Jan Ferenc and other members of FERMAT’s sales team called upon current customer in Milan, Bergamo, and Venice, and liaised with dealers, cultivating good relations and finding areas of even greater cooperation. Throughout the area, they noted immense potential for further sales of machine tools, especially in regard to high-end, advanced technology. Even with the overall economy beginning to stagnate, and industrial production slumping, Italy’s manufacturing sector still commands mammoth resources; and, when combined with government-funded financial packages and tax incentives, it’s fertile ground for future FERMAT customers.
On their way back, FERMAT’s jet-setting sales team stopped off and enjoyed the pleasant waterfront, and delectable Italian cuisine, of Lago di Garda. The region offers much in commercial opportunities and tourist destinations ideal for businessmen, entrepreneurs, and enthusiastic travelers alike.
Please visit, http://www.fermatmachinery.com/products, for information on the different FERMAT machine tools and accessories that can improve your manufacturing business. Also, try to Build Your Own machine using our on-line configurator found on our homepage, http://www.fermatmachinery.com/. Should you have any enquiries, please send us an e-mail: firstname.lastname@example.org, or for the U.S. market, e-mail Lucas Precision, a FERMAT Group company: email@example.com, or call in the U.S.: (216) 451-5588, or send us a fax (216) 451-5174.