Release date: 18 September 2014
Promoter – Financial Intermediary
The promoter is an Italian tyre manufacturer active in the retreading of used tyres for industrial and commercial vehicles, manufacturing of new tyres, development and production of machinery and engineering solutions for the tyre production and retreading industry, and commercialisation and distribution of tyres.Location
Description
The promoter's investment concerns R&D activities and capital expenditures (including the setup of the related production capacity) to be carried out in the period 2014-16 for the development and deployment of retreaded tyre products (base mix and tread materials) and manufacturing (mixing and retreading) technology, mainly focusing on the improvement of product quality, safety, mileage, rolling resistance and fuel efficiency.
Objectives
The project consists of the promoter's R&D investment programme for the period 2014-2017. The company's R&D activities are mainly located in Italy and concern: (i) the development, engineering, and production deployment of innovative product and process technologies for retreaded truck tyres to increase product quality and achieve the performance standards required for new tyres by forthcoming regulations; and (ii) the development, testing, and engineering of a new set of components and a new generation of tread application technology for building new large-size tyres (off-highway).
Comments
The Risk-Sharing Finance Facility (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 - Manufacturing
Proposed EIB finance (Approximate amount)
EUR 10 million
Total cost (Approximate amount)
EUR 21 million
Environmental aspects
The promoter's RDI activities concern investments in research, development and innovation that will be carried out in existing facilities already authorised for similar activities and do not require an Environmental Impact Assessment (EIA) according to the relevant EU Directives.
Procurement
The promoter has been assessed by EIB as being a private company not operating in the utilities sector and not having a status of a contracting entity, thus not being subject to EU rules on public procurement. However, if after the project appraisal, the EIB were to conclude that the promoter is after all subject to EU public procurement legislation (i.e. Directive 2004/17/EC), then the Bank would require the promoter to ensure that contracts for the implementation of the project have been/will be tendered in accordance with the relevant applicable EU procurement legislation (Directive 2004/17/EC and Directive 92/13/EEC), with publication of tender notices in the EU Official Journal, as and where required.
Status
Signed - 23/12/2014
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).