Release date: 12 June 2009
Promoter – Financial Intermediary
GKN Aerospace, Ltd.
Location
Description
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.
Objectives
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”.
Sector(s)
Proposed EIB finance (Approximate amount)
GBP 80 million.
Total cost (Approximate amount)
Approximately GBP 160 million.
Environmental aspects
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
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.
Status
Signed - 23/12/2009
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).