ANNOUNCEMENT 03 Apr 2019
In April 2019, the European Investment Bank (EIB) signed a loan agreement with Atlas Copco AB to support its research and development of industrial technologies and new products in the area of compressors and vacuums.
NUMBER OF INTERVENTIONS
The European Investment Bank, Financed Projects, RDI FOR SUSTAINABLE PRODUCTIVITY SOLUTIONS: https://www.eib.org/en/projects/loan/loan/20180651
The European Investment Bank, Project summary, RDI FOR SUSTAINABLE PRODUCTIVITY SOLUTIONS: https://www.eib.org/en/projects/pipelines/pipeline/20180651
The European Investment Bank, press release of 3 April 2019, Sweden/Belgium: EIB to provide financing for sustainable production at Atlas Copco: https://www.eib.org/en/press/all/2019-096-eib-to-provide-financing-for-sustainable-production-at-atlas-copco
The European Investment Bank has approved a EUR 300 million (approx. USD 337 million) loan facility to Atlas Copco AB. On 3 April 2019, the EIB and Atlas Copco AB signed the first tranche under the facility having a total value of EUR 144 million. On 28 May 2019, the parties signed two new loan agreements under the credit line having a total value of EUR 156 million.
The EIB loan will support the company's research and development of industrial technologies and new products in the area of compressors and vacuums. Over sixty per cent of the supported activities will be carried out in the company's facilities in Sweden and Belgium, around thirty per cent will be carried out in Germany and France and the remaining ten per cent will be carried out in other European countries.
In this context, the EIB Vice-President Alexander Stubb stated in a press release: "Supporting strategic know-how and technology in Europe is placed high on the agenda of the European Union. The EIB feels that this project will increase European industry’s technology leadership position and its competitiveness, thus supporting growth and employment around Europe. That, coupled with the company’s commitment to making its production processes more sustainable, means that we’re very happy to get behind this."
Atlas Copco AB has its headquarters in Sweden and is a provider of various industrial solutions including certain compressors, vacuum solutions, assembly systems, power tools and pumps. The company's sales network spans to more than 180 countries around the world.
A state act in the GTA database is assessed solely in terms of the extent to which its implementation affects foreign commercial interests. On this metric, the investment support granted here is discriminatory.