CIE Automotive Multitechnology Parts

Promoter – Financial Intermediary

CIE Automotive

Location

• Spain
• Lithuania
• Romania
• Czech Republic

Description

The project concerns the promoter’s expenditures on RDI activities, linked to a broad range of metal, plastics, aluminium and machining technologies. The promoter is specialised in stamping, tube forming, aluminium die casting, forging, machining and plastic injection technologies required in the production of steering, engine and transmission parts.

Objectives

The majority of the planned projects target emissions reductions and fuel efficiency by e.g., developing lighter metal and plastic parts that contribute to the weight reduction of cars. In addition, several projects focus on car safety and the recyclability of components.

Comments

The project is eligible under the Risk Sharing Finance Facility (RSFF). RSFF is an innovative credit risk sharing scheme jointly set up by the European Commission and the European Investment Bank to improve access to debt financing for private companies or public institutions promoting activities with a higher financial risk profile in the fields of research, technological development, demonstration and innovation investments.

Sector(s)

• Industry

Proposed EIB finance (Approximate amount)

EUR 87 million.

Total cost (Approximate amount)

EUR 174 million.

Environmental aspects

The project concerns investments in research and development that will be carried out in existing facilities, and therefore an Environmental Impact Assessment (EIA) is not required by EU Directive 85/337/EC, amended by Directives 97/11/EC and 2003/35/EC.

Procurement

The promoter is a private company operating in the manufacturing sector not covered by EU Directives on procurement.

Status

Signed - 23/12/2009