Release date: 31 August 2010
Promoter – Financial Intermediary
DUERR AG
Location
Description
The project concerns the promoter’s investment in RDI (Research, Development and Innovation), predominantly focusing on the development of paintshops to be integrated in automotive OEMs’ production plants.
Objectives
The project consists of (i) R&D and product innovation in today’s business areas, which includes the automotive (e.g. fully integrated painting solutions), aerospace (aircraft assembly systems) or other industries (cleaning and filtration systems), allowing customers to cover the entire production cycle with the promoter’s technology; and (ii) further research and development efforts to diversify the company’s products to applications in new business areas.
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)
Proposed EIB finance (Approximate amount)
EUR 40 million.
Total cost (Approximate amount)
EUR 110 million.
Environmental aspects
The project concerns investments in research and development that will be carried out in existing facilities already authorised. An Environmental Impact Assessment (EIA) is therefore not required by EIA Directive 85/337/EC, amended by Directive 97/11/EC. The project is expected to have a positive impact on the environment, as the targeted innovations are focusing on reducing the environmental impact from painting car bodies and components, as well as on reducing the energy intensity of the corresponding part of the production process.
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 - 21/06/2011
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).