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The project encompasses the Group's investments related to advanced manufacturing and energy efficiency capital expenditures and RDI programme for the period 2024-2026.
The project will support European advanced manufacturing and RDI investments in automotive components, including in convergence regions.
The Project concerns the Promoter's investments to develop more sustainable, energy and resource efficient manufacturing technologies across a broad range of metal and plastic forming processes for automotive components. It will further knowledge creation and diffusion through the Promoter's collaborations with customers, industrial and supply chain partners. It will also contribute to a continued reskilling and upskilling of Promoter's resources, in addition to integrating additional skills to meet the needs emerging from automotive industry transformation.
The financing of this RDI project is therefore set to generate positive knowledge, environmental and adoption externalities. Such investments contribute to the Bank's "Innovation, Digital and Human Capital" public policy objective, a part of them also to the EIB Climate Action and Environmental Sustainability policy objective. EIB financing supports the Promoter's investments addressing market failures and gaps associated with imperfect competition and incomplete markets for innovative manufacturing technologies, and those addressed by projects with positive knowledge and environmental externalities generation.
This Project will help the Promoter to implement its strategic objectives and strengthen its know-how, competence and position in the technology fields associated in particular with its sustainability strategy. As such, it will help the promoter to address the evolving market and technology context, the ongoing transformations in its customer industries, the relevant customer needs and to achieve its medium and long-term sales and profitability targets. The Project will add to the social welfare and bring about social benefits, by generating environmental and knowledge positive externalities.
The Bank will support the company with access to long-term financing with customised and flexible financial terms and conditions, which match the economic life of the Project and increase the Promoter's average debt maturity. The Bank's financing will have a positive signalling effect to other financiers, demonstrating the Project's soundness and quality. The Project would not have been carried out (to the same extent) by the EIB without the InvestEU support.
The project includes capital expenditures in existing manufacturing locations that neither changes already authorised scope, nor significantly increases production capacity. The project includes advanced manufacturing equipment targeting both operational efficiencies and the reduction of carbon footprint. The project will not require an environmental impact assessment (EIA) under the directive 2014/52/EU amending directive 2011/92/EU.
The Promoter is a private company not operating in the Utilities sector and not having a status of a contracting entity. Thus, it is not covered by EU Directives on procurement.