The Biscay-based cooperative will make RDI investments at its MTC innovation centre to develop new activities, textures and colours.
The new components developed by Maier will be manufactured using more sustainable and environmentally friendly production processes, and will also help to reduce vehicle weight and fuel consumption.
Maier will boost its competitiveness to meet the needs of new clients in the Premium segment, and will also implement a globalisation plan to give it a greater presence in markets such as Eastern Europe, China, India and Mexico.
The European Investment Bank (EIB) is granting a EUR 25m loan to Maier, a member of the Mondragón Corporation and European leader in the design and production of vehicle trim components for the automotive sector. EIB Vice-President Román Escolano and Maier Director Martín Ugalde signed the EUR 25m loan. This agreement was made possible by the support of the European Fund for Strategic Investments (EFSI). The EFSI is the central pillar of the European Commission's Investment Plan for Europe, the so-called "Juncker Plan”.
With the financing provided by the EIB, Maier will be able to undertake essential RDI investment at its innovation centre in Guernica, where it will install new technology enabling it to develop components designed to meets needs for technical parts for the different functions of the vehicles manufactured and trim with new textures and colours, by means of more sustainable and environmentally friendly production processes. The innovation in the design and production of these new components will also help to bring down the weight and fuel consumption of the vehicles.
Improved competitiveness
Another aim of this EIB-financed project is to boost the company’s competitiveness by supporting an increase in the production capacity of its facilities in Spain, Italy and the Czech Republic with a view to catering for new customers in its premium segment. In parallel, Maier is implementing a globalisation plan designed to give it a greater presence in markets such as Eastern Europe, China, India and Mexico. Provided on favourable interest rate and maturity terms, today’s loan will enable Maier to speed up essential investment so that it can take advantage of new business opportunities in its sector. Specifically, it is estimated that Maier’s new investment plans will lead to the creation of 250 new R&D jobs during the implementation phase.
This is the first operation mounted under the Loans for Midcaps in Spain and Portugal programme, a dedicated EIB financing facility for midcaps (firms with up to 3 000 employees). Thanks to the backing of the Investment Plan for Europe, this credit line will make it possible to support investment in projects that have a higher risk profile, owing to their structure or nature, but contribute to boosting growth and employment.
“This loan demonstrates the EIB’s firm commitment to securing the future of businesses that need to invest strongly in order to carry on innovating in highly competitive sectors, a trend that benefits the whole of the Spanish and European economies”, said EIB Vice-President Román Escolano. “But this is also an agreement that will have a positive impact on job creation, because thanks to the investments financed by the EIB the company will be able to offer its customers new products and reach new markets, ensuring its competitiveness through more efficient and environmentally friendly production processes.”
European Commission Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness, said: "Investing in the research required to produce innovative products for international markets requires a commitment to sustained investment. This agreement will provide Maier with the opportunity to do just that. The EFSI is providing the financial backing to help ensure that European companies maintain their status as global leaders in innovation and are well-placed to compete in the global marketplace."
The Junker Plan is already expected to mobilise over EUR 28 billion in investments in Spain and EUR 209 billion across Europe.
Photographer: Mercedes Landete ©EIB
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