Oman SWF Invests in Italian Auto Parts Maker Sigit
The Oman Investment Fund (OIF), a sovereign wealth fund, acquired a 40% stake in Italian automobile parts manufacturer Sigit SpA. The strategic investment could lead to increased manufacturing in Oman, where the country has a booming young demographic, which is opposite of Italy’s aging demographic. Founded in 1966, Sigit is a privately-owned firm whose customers include Volkswagen, Fiat Chrysler Automobiles, General Motors and Renault. In 2014, Sigit booked €72.5 million in revenue and has nine plants.
Auto Hub – Expanding Manufacturing Base
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