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        GESTAMP AUTOMOTION

        Signature(s)

        Amount
        € 100,000,000
        Countries
        Sector(s)
        Spain : € 100,000,000
        Industry : € 100,000,000
        Signature date(s)
        9/09/2002 : € 50,000,000
        9/09/2002 : € 50,000,000

        Summary sheet

        Release date
        27 February 2002
        Status
        Reference
        Signed | 09/09/2002
        20010591
        Project name
        Promoter - financial intermediary
        Gestamp Automoción
        Gestamp Automoción SL
        Proposed EIB finance (Approximate amount)
        Total cost (Approximate amount)
        Up to 40% of project cost
        Approximately EUR 250 mio
        Location
        Sector(s)
        Description
        Objectives

        The project consists of modernisation and retooling investments and some extensions to plants of the Gestamp Automoción group

        The promoter is a strategic supplier to the Spanish automotive industry, which represents nearly 7% of Spain's GDP and 25% of the country's exports. The promoter's proposed investments are located throughout Spain, mainly in Assisted Areas Objective 1 and 2 for allocation of EU structural funds. The project will create a significant number of new jobs and further the development of less developed areas.

        Environmental aspects
        Procurement

        Metal forming is not listed in the EIA Directive 97/11. It is essentially a non-polluting activity. The project entails mainly modernisations and extensions of activities on existing sites. All the operations have, or are in the process to obtain, a certification under ISO14001.

        The promoter carries out competitive enquires, among potential suppliers for goods and services, as is usual in this industry.

        Comments

        Metal components for the automotive industry.

        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).

        General enquiries and comments

        The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
        Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
        Alternatively, the EIB can be contacted through its external offices.
        Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

        Media enquiries

        Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

        Complaints mechanism

        Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

        Zero tolerance against fraud and corruption

        The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

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