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Signature(s)

Amount
€ 87,762,602.16
Countries
Sector(s)
United Kingdom : € 87,762,602.16
Industry : € 87,762,602.16
Signature date(s)
23/12/2009 : € 87,762,602.16
Link to source
Data sheet
Other links
Summary sheet

Summary sheet

Release date
12 June 2009
Status
Reference
Signed | 23/12/2009
20090053
Project name
Promoter - financial intermediary
GKN Aerospace RDI

GKN Aerospace, Ltd.

Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
GBP 80 million.
Approximately GBP 160 million.
Location
Sector(s)
Description
Objectives

The project concerns the promoter’s RDI activities related to the design, development and industrialisation of new composite wing structural parts, e.g. rear inner wing spar and the fixed trailing edges, to be assembled in a new generation aircraft.

The project will contribute to increasing the promoter’s knowledge and know-how in the design, development and innovative manufacturing of lighter aircraft structures (composite wings), bringing about positive environmental results in terms of improved transportation efficiency and lower fuel consumption, CO2 and other harmful emissions. Such technology is in line with EU policy on reducing pollutant emissions and will contribute to improving the competitiveness of the European aerospace industry.

The project is in line with EC policy orientations to promote private and competitive innovation, being eligible for EIB financing under article 267 (c) of the EC Treaty as “Knowledge Economy (i2i)” as both “Research and Development” and “Innovation”.

Environmental aspects
Procurement

A part of the project concerns investments in R&D and innovation that will be carried out in existing facilities, already authorised and for which an EIA is not required by EIA Directive 86/557/EC, amended by Directives 97/11/EC and 2003/35/EC. Another part of the project mainly concerns the investments in tooling and machinery. The Bank’s services will verify details during the project’s due diligence and whether an EIA is required by EIA Directive 83/557/EC, amended by Directives 97/11/EC and 2003/35/EC.

Procurement is expected to be in line with EIB guidelines for private sector projects. The Bank’s services will verify details during the project’s due diligence.

Link to source
Summary sheet
Other links

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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