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    Reference: 20170015
    Release date: 18 August 2017

    Promoter – Financial Intermediary

    EGYM GMBH

    Location

    Description

    eGym is a Munich-based developer and manufacturer of fitness technology. The project will support its 2017-2019 investment programme, including: (i) research, development and engineering costs, (ii) capital expenditures for the development of the company's own assembly and production facility, and (iii) the permanent increase of indirect costs and net working capital to support market expansion.

    Objectives

    The project will allow this innovative business to foster its R&D activities and create jobs, while expanding its product range and geographical coverage.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 25 million

    Total cost (Approximate amount)

    EUR 55 million

    Environmental aspects

    All project activities are expected to be carried out in existing facilities without changing the already authorised scope and would therefore not require an Environmental Impact Assessment (EIA) under Directive 2014/52/EU amending the EIA Directive 2011/92/EU.

    Procurement

    The promoter has been assessed by the EIB as being a private company not subject to EU rules on public procurement or concessions.

    Status

    Signed - 14/12/2017

    Disclaimer

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

    Related tags

    Germany Industry