(Alliance News) - Circle Spa announced Thursday that its subsidiary Magellan Circle has been awarded the AutoMoTIF project.

Funded under the Horizon Europe program and with a total budget of about EUR4 million, the project for Circle has a value of EUR270,000 and a duration of 36 months.

AutoMoTIF will focus on the development of strategies, business and governance models, regulatory recommendations and synergies for the operational automation of multimodal cargo flows and logistics supply chains in the intra-European network.

"AutoMoTIF represents the next step in our supply chain innovation strategy and showcases Circle Group's strengths in both software development and communication expertise," said Alexio Picco, president of Magellan Circle.

Circle's stock is up 1.7 percent at EUR7.26 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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