- EIB provides EUR 150 million loan
- GEA uses new funds for R&D and innovation
GEA Group AG has signed a EUR 150 million loan agreement running until 2025 with the European Investment Bank to finance its research, development and innovation spending. By utilising the very attractive financing terms currently on offer, GEA is taking early action to diversify and extend the maturity of its already good funding base.
“With this loan agreement GEA is demonstrating that, even in difficult economic circumstances, its determination to place its faith and invest in groundbreaking innovation is undiminished. Our research and development is always geared to being able to offer our customers ever more energy efficient products for their production processes, so reinforcing GEA’s leading market position”, said GEA Group AG’s Finance Director Helmut Schmale.
The EIB Vice-President with responsibility for the EU bank’s business in Germany, Ambroise Fayolle, stressed: “Europe continues to face major competitiveness and innovation challenges. As the EU bank, we therefore support investments that lead to greater innovation, technological skills and competitiveness. This is part of our task of strengthening Europe’s economy on a sustainable basis, because innovation and skills are key to creating sustainable and high quality jobs, especially in a country like Germany that competes globally. So I expressly welcome the continuation of our fruitful cooperation with GEA through this transaction.”