SOAG Europe SA, initially founded through the association of several investors and the Oman Investment Fund (OIF), aims to become a leader in the EMEA automotive plastic market. The starting point for this objective was the acquisition of the Italian automotive plastic company SIGIT spa. With an annual revenue of 75 million Euros (2014) and 780 employees, SOAG runs eight production facilities throughout the EMEA region where a wide spectrum of technical plastic parts and components for the automotive and for the appliance industry are produced.
In September 2014, SOAG established its corporate headquarters in the canton of Ticino. According to Dr. Emanuele Buscaglione, CEO of SOAG Europe SA, the main reasons for this decision consist of the country’s stable and transparent political and governance system, its international character as well as its well-established relationship with the European Union.
A well-defined, clear and transparent settlement process
The Swiss Business Hub Italy, the representative of the Swiss trade and investment promotion agency Switzerland Global Enterprise (S-GE), was the first point of contact for SOAG once they considered relocating to Switzerland. After evaluating opportunities in several cantons, SOAG decided to locate in the canton of Ticino. Among several convincing arguments was the fact of the proximity to the Milan Malpensa Airport, which they already use frequently. The cantonal authorities provided all necessary information and the parties involved realized the settlement of the SOAG Europe SA in Morbio Inferiore.
As Buscaglione emphasizes, setting up operations in Switzerland has been a very positive overall experience: «The process was well-defined, clear, and transparent throughout, which is, by the way, another reason why we chose to locate our headquarters in Switzerland.» Buscaglione also points out that a «well-delineated set of regulations and standards for establishing the business cannot be overstated».