Antonio Carraro supported by Cassa Centrale Group
13 November 2023
Funding expected to aid expansion of the Italian tractor brand
Antonio Carraro SpA, a Padua, Italy-manufacturer of specialized tractors, said it has received a bank pool loan to the value of € 7.5 million (more than $8 million) from Cassa Centrale Banca and its affiliated credit co-operatives Banca Prealpi SanBiagio and Banca del Veneto Centrale.
The new financial resources will be used to support the company’s long-term development plan focusing on consolidation and growth.
“We are very excited about this deal because it will significantly boost our company’s growth,” said Maurizio Maschio, chairman of Antonio Carraro S.p.A. “The recent upward trend has given us the confidence to make new investments. Today, our company is structured and increasingly looking to the future, with a brand recognised worldwide for the high quality of its products and innovative, sometimes even unique solutions.”
Antonio Carraro SpA was founded in 1910 by Giovanni Carraro, father of the pioneer and inventor, Antonio. Since the 1970s, Antonio Carraro has been a top manufacturer of compact tractors machines registered in Italy. In 2023, the company was acquired by the Milleuno Group led by Maurizio Maschio and Enrico Polo.
The brand’s diversified production includes more than 80 models for specialized agriculture (vineyards, orchards and row crops), as well as a range of ground care machinery (urban cleaning, road maintenance and the upkeep of public areas and sports grounds). The manufacturing philosophy adopts the “lean” principles proposed by Porsche Consulting in 1999. Every tractor is tailor-made according to each client’s specific requests.
The company exports to 58 countries worldwide for a total of 65% of its production and boasts a workforce of around 560 employees between its headquarters and subsidiary branches in Australia, Spain, France and Turkey.
The company is also diversifying its investments in new markets. developing even full electric and hybrid tractors. Moreover, it is also a majority partner of On Charge, an electric mobility company that offers solutions and services for vehicle charging and for e-bike, e-scooter and e-car sharing projects for companies and public administrations alike.