- Fresh financing will be used for research, development and innovation
- Financing provided under Investment Plan for Europe, or Juncker Plan
The European Investment Bank (EIB) is providing a EUR 50m loan to Ensinger GmbH, a privately-held mid-cap company in Germany, focusing on the manufacturing of specialised finished and semi-finished high-performance engineering plastics products for a variety of industries and applications. The EU bank’s loan is backed by a guarantee from the European Fund for Strategic Investments (EFSI), the heart of the Investment Plan for Europe – the Juncker Plan – under which the EIB and the European Commission are working together as strategic partners and the EIB’s financing operations are boosting the competitiveness of the European economy.
Ensinger will use the fresh financing for investments in research, development and innovation in the field of high-tech engineering plastics manufacturing and applications, in manufacturing equipment and machinery and in buildings to support the company´s growth over the period 2019-2021. The transaction is the EU bank’s first operation with Ensinger.
Ambroise Fayolle, EIB Vice-President responsible for financing in Germany, said: “Our loan will catalyse Ensinger’s medium-term growth strategy by providing the company its first unsecured term loan in support of its pivotal RDI and technology investments. This deal has been made possible by the backing of the Juncker Plan. It is an excellent example of the value added that Europe provides for innovative businesses to boost growth and jobs in Germany.”
Commissioner Günther H. Oettinger, in charge of Budget and Human Resources, said: “This is yet another example of how the EU budget – and the Juncker Plan in particular – delivers added value for EU citizens. With today’s decision, the EU is creating fresh opportunities for research and innovation in Germany and in Europe and making sure that European companies are in a good position to grow, generate more jobs and expand to new markets.”
Peter Kamps, Ensinger Group’s CFO, commented: "The further development of processing technologies, new applications and international expansion are key factors in maintaining and consolidating Ensinger’s strong global market position. This requires ongoing high investments in research, development, innovation and manufacturing. The long-term EIB loan is a substantial element of our financial structure and will support the funding of the Ensinger Group’s growth activities."