News & Press Release
Milan, 10 May 2021 – Maire Tecnimont Group and TXT Working Capital Solutions are launching a financial program aimed at fostering the growth of Maire Tecnimont's strategic Italian suppliers. The program is based on Polaris, an innovative Supply Chain Finance platform that is part of TXT's family of proprietary solutions for the FinTech sector.
Maire Tecnimont Group is an international leader in the transformation of natural resources with distinctive technological and executive skills in the construction of large industrial plants. Maire Tecnimont Group is present in about 45 countries, has about 50 operating companies and about 9,000 employees. TXT Working Capital Solutions, part of the TXT Group, is a Fintech operator, with high-level skills and know-how in the specific segment of supply chain finance.
For Maire Tecnimont, the creation of value involves the entire supply chain, made up of more than 5,000 Italian and foreign companies. The Group has always been committed to ensuring the solidity and flexibility of its supply chain, one of the key factors of competitiveness in the interaction with foreign markets, especially thanks to the technological excellence of the many Italian SMEs that contribute to the realization of Maire Tecnimont's orders worldwide.
Fabio Fritelli, Group Finance Vice President of Maire Tecnimont, commented: "Italian skills in the transformation of natural resources are a technological and entrepreneurial treasure that we must know how to use to the best advantage worldwide. Today, with TXT we are able to strengthen the competitiveness of our strategic Italian suppliers, equipping them with new innovative tools aimed at supporting and optimizing working capital, and facilitating synergies throughout the supply chain, at a time when resilience, adaptability and a predisposition for teamwork are key factors in relaunching the industrial fabric of our country.”
“We are proud to support Maire Tecnimont in achieving the specific objective of making its national supply chain more robust in the face of market challenges with a tool that leverages TXT Working Capital Solutions' legal and financial expertise and TXT's consolidated implementation and technological capability” added Francesco Sacchi, creator of Polaris and CEO of TXT Working Capital Solutions. “In the historical moment in which we live, characterized by a great vulnerability for companies, it is necessary to rethink the paradigm of the relationship between the different actors within the production and distribution chains and to build a new ecosystem of financial relationships, adopting models and tools capable of creating the conditions for stability. It is in this scenario that we propose Polaris' collaborative approach based on the sharing of creditworthiness.”
Polaris is a digital multi-funder platform developed by the TXT Group as a flexible tool for the management of Reverse Factoring, Confirming and Dynamic Discounting operations that focuses on the objectives of large buyers and at the same time reinforces the financial stability of their suppliers, generating a community capable of interacting in a collaborative manner. Confirming the TXT Group's growth ambition in the Factoring and Supply Chain Finance market, TXT Working Capital Solutions is already focusing its attention on further developments of the Polaris offering, pertaining to the possibility of financing orders, contracts and warehouses of goods.
Maire Tecnimont S.p.A., listed on the Milan Stock Exchange, heads an industrial group which leads the global natural resource processing industry (downstream oil & gas plant engineering, with technological and executive expertise). Its subsidiary NextChem operates in the field of green chemicals and technologies in support of the energy transition. The Maire Tecnimont Group operates in 45 countries, through 50 companies and about 9,000 people. For further information: www.mairetecnimont.com.
Group Media Relations
Carlo Nicolais, Tommaso Verani
+39 02 63137603
TXT Working Capital Solutions is a Fintech company operating in the Supply Chain Finance segment. Its mission is to contribute to the evolution of enterprises’ working capital financing techniques, providing digital solutions based on process engineering and collaboration between companies and financial partners. Working Capital Solutions is part of TXT Group, an international, specialized provider of advanced software solutions supporting customers in high-tech markets in their mission- and business-critical core processes and throughout their product lifecycles. Headquartered in Milan, TXT is listed on the Italian Stock Exchange and has subsidiaries in Italy, Germany, France, Switzerland, the UK and the US.