The European Investment Bank (EIB) has granted a EUR 50m loan to Lyon company KEM ONE to finance part of their investment into the modernisation of industrial tools and research and development (R&D). This loan is guaranteed by the European Fund for Strategic Investments (EFSI), which is at the heart of the Juncker Plan.

The second largest PVC (polyvinyl chloride) manufacturer in Europe, chemicals company KEM ONE is present on the construction, automotive, packaging and healthcare markets. It is focusing its R&D efforts on the development of new resins and higher value-added specialist products (emulsion PVC, latex and post-chlorinated PVC).

As part of the modernisation plan it began in 2014, KEM ONE is also making industrial investments. It recently started construction on an ethylene storage terminal at its Fos site to secure its supplies.

European Commissioner for Economic and Financial Affairs, Taxation and Customs Pierre Moscovici commented, “I welcome this new Juncker Plan loan, which will help to keep the French chemicals industry at the forefront of innovation. This once again demonstrates that the EU is supporting jobs and growth in France.”

“We are very pleased to assist KEM ONE with this new stage of its development,” explained EIB Vice-President Ambroise Fayolle. This loan is not only in line with one of the main focal points of our policy to promote innovation, but also shows the EIB's determination to support industry in France.”

“This EIB support is vital to the continued development of our company,” highlighted CEO Frédéric Chalmin. “It once again shows the trust placed in KEM ONE by its financial partners.”

This financing falls under the MidCap France programme, guaranteed by the Juncker Plan. It illustrates the capacity now available to the EIB (the EU bank) to support the investments of mid-cap companies.