Funds will support ZKW’s R&D and expansion of production capacity
The European Investment Bank (EIB) will provide €150 million to Austrian ZKW Group GmbH. ZKW is a leading automotive supplier that develops and manufactures innovative premium lighting systems and electronic modules. In recent years, ZKW significantly shaped the industry through a series of innovations such as the first laser headlights in series production. The fresh funds from the EU bank will be used for ZKW´s investments in Research, Development and Innovation (RDI) in the field of innovative automotive lighting systems carried out in Austria and Slovakia. In addition, ZKW aims to invest in state-of-the art machinery and equipment for its manufacturing site located in Slovakia.
EIB Vice-President Thomas Östros: “ZKW experienced rapid growth over the past decade through a series of innovations. For the EIB, the bank of the European Union, innovation is key to economic growth and employment. It drives prosperity and the EU’s competitiveness. I therefore very much welcome our new cooperation, in particular with a company, that managed to build up its leading position in the automotive lighting industry through new technologies, which are recognised and used by international premium brands in the car industry.”
ZKW CEO Oliver Schubert, explained the strategic plans of ZKW: “With the funds of the European Investment Bank, ZKW will be able to further expand the innovation activities, which are key to success, with a higher budget for reasearch and development. In addition ZKW will invest in sustainable production and green development. Therefore ZKW has already invested and will further invest in energy efficient machinery in the Slovakian plant in Krusovce. In addition, ZKW can strenghten the business environment in Europe, which is a huge benefit not only in cost savings but also for generating new jobs. Furthermore, ZKW aims to have green finance, as a seal of quality for green company. We appreciate the funds of the Bank of the European Union as a seal of quality for our company. We are aware that only high-ranking companies can work together with the EIB. It is a honour to be named with European innovation market leaders.“
Contract signing on 27th of November 2020: ZKW Management Board members: Andrew Greenlees, CFO, Oliver Schubert, CEO and Byoung Nyoung Chang, CFO (from left to right)
The ZKW Group is the specialist for innovative premium lighting systems and electronics. As a system supplier, ZKW is a global partner to the automotive industry. The 360 degree product portfolio includes headlamps and fog lamps, rear lamps, flashers, interior and license plate lamps as well as electronic modules. Major automotive manufacturers trust their brands to innovative products from ZKW. With intelligent lighting systems and innovative styling, ZKW is shaping the look and character of vehicles worldwide.
The project concerns the promoter's investments in Research, Development and Innovation (RDI) in the field of innovative automotive lighting systems carried out in Austria and Slovakia as well as investments in state-of-the art machinery and equipment for the promoter's manufacturing site located in Slovakia. The project covers the period between 2019 and 2021.
The European Investment Bank Group (EIB Group), comprising the European Investment Bank (EIB) and the European Investment Fund (EIF), financed loans, guarantees and equity commitments in Slovakia totalling €211 million in 2020.
The EIB is providing the Austrian lighting company Zumtobel Group with the second EUR 40m tranche of an EUR 80m financing programme to strengthen its research and development activities. The EIB loan is backed by a guarantee from the European Fund for Strategic Investments (EFSI). EFSI is an essential pillar of the Investment Plan for Europe – also known as 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.