Sweden/Belgium: EIB to provide financing for sustainable production at Atlas Copco
- Apr 3, 2019
EIB approves EUR 300 million loan in support of Atlas Copco’s RDI investments between 2019 and 2022. Financing is intended to develop sustainable productivity solutions for its compressor, vacuum and industrial business areas, located in various EU countries.
- EIB approves EUR 300 million loan in support of Atlas Copco’s RDI investments between 2019 and 2022.
- Financing is intended to develop sustainable productivity solutions for its compressor, vacuum and industrial business areas, located in various EU countries.
The European Investment Bank has today signed the first tranche of a EUR 300 million (SEK 3.14 billion) loan facility with Atlas Copco. The EUR 144 million (SEK 1.5 billion) financing signed today comes in support of advanced research and development of technologies, as well as new innovative products in the areas of compressors, vacuum and industrial technologies. The operation is expected to make the company’s products and processes more environmentally friendly by financing RDI for the development of more sustainable productivity solutions.
EIB Vice-President Alexander Stubb commented: “Supporting strategic know-how and technology in Europe is placed high on the agenda of the European Union. The EIB feels that this project will increase European industry’s technology leadership position and its competitiveness, thus supporting growth and employment around Europe. That, coupled with the company’s commitment to making its production processes more sustainable, means that we’re very happy to get behind this.”
The project is expected to improve safety and productivity characteristics as well as reducing CO2 emissions and enhancing the energy efficiency and recovery of the resulting products. Atlas Copco’s RDI activities will in turn enable its clients to increase their productivity, energy efficiency, safety and ergonomics, and can reduce the environmental impact of their production processes.
Over 60% of the investments will support activities to be carried out at the company’s locations in Belgium and Sweden, with some 30% of the investments going to Germany and France, while the remainder will be split between activities in other European countries.
Atlas Copco, founded in 1873 (as Atlas) and headquartered in Stockholm, Sweden, is a world-leading provider of industrial productivity solutions and related aftermarket services. Their products and services include compressors, vacuum solutions, generators, pumps, power tools and assembly systems. Atlas Copco’s products are sold under different brand names through an international sales and service network reaching more than 180 countries.