EFSI - EU bank finances Mécachrome Group’s development with EUR 40 million loan
- Release date: 14 September 2017
- Reference: 2017-242-EN
The European Investment Bank (EIB), the EU bank, announces the signing today of a EUR 40 million finance contract with the Mécachrome Group in Sablé-sur-Sarthe. EIB Vice-President Ambroise Fayolle welcomed this new Juncker Plan loan on his trip to Sablé-sur Sarthe, saying: “I am delighted to once again be here with you in the Pays de la Loire region to sign this new Juncker Plan loan enabling support for investment and competitiveness in Europe, the aim being to leverage more than EUR 315 billion worth of investment by 2018. This new EU support in the Pays de La Loire region pays strong testimony to the dynamism of the region’s economic fabric and its importance in the aeronautics industry. We are particularly pleased to be able to assist the Mécachrome Group’s with its growth and investment in France and abroad as a key player and component supplier in the aeronautics sector.”
Support for “Factories of the Future” projects
The EIB loan will finance Mécachrome’s “Factories of the Future” project. Two 4.0 factories will benefit from it: the MKAD plant in Varilhes (Ariège) manufacturing large-scale titanium components for the aeronautics industry; and the MK Aeronautica plant in Evora (Portugal), which will house the Group’s first series cryogenics machining line.
The loan will also finance investment in ramping up the production of Leap engines at the Sablé-sur-Sarthe site, consisting of the installation of three completely automated lines with fully digitised traceability and control systems. A Hypervision system has also been put in place for piloting these three production lines.
This is a key loan for the Mécachrome Group that rounds off the necessary finance for its industrial and commercial development on the international stage.
New Juncker Plan loan
This new loan is backed by an EU guarantee aimed at facilitating access to finance for innovative firms under the Investment Plan for Europe, commonly known as the Juncker Plan. Innovation and enterprise support are among the EIB Group’s top priorities. The Juncker Plan is therefore continuing to steam ahead in France, with 89 operations approved by the EIB Group to date representing total financing of over EUR 7 billion.