ANNOUNCEMENT 21 Jun 2021

In June 2021, the European Investment Bank signed a loan to support Altana's activities to develop climate-friendly, digital and sustainable products. 

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

European Investment Bank, Project Financed, ALTANA SUSTAINABLE SOLUTIONS: https://www.eib.org/en/projects/loans/all/20200761

European Investment Bank, Press Release 29 June 2021, Germany: EIB supports ALTANA’s green research projects: https://www.eib.org/en/press/all/2021-232-eib-supports-altana-s-green-research-projects

Inception date: 21 Jun 2021 | Removal date: open ended

State loan

On 21 June 2021, the European Investment Bank (EIB) and ALTANA AG signed a loan agreement having a total value of EUR 200 million (approx. USD 238.2 million). The EIB debt financing will support the company's research and development efforts to develop climate-friendly, digital and sustainable products. More specifically, the investment covers the development and production of sustainable packaging materials and promote resource-efficient digital printing solutions. 

ALTANA AG, headquartered in Wesel, Germany, produces additives, special coatings and adhesives, effect pigments, sealants and compounds, impregnating resins and varnishes, and testing and measuring instruments for a wide-ranging spectrum of sectors like coating manufacturers, paint and plastics processors, the printing and packaging industries, the cosmetics sector and the electrical and electronics industry. 

In a press release, EIB Vice-President Ambroise Fayolle is quoted as follows: "In light of rising global demand for chemical products, there is a growing need for these products to be resource-efficient and environmentally friendly. The chemical industry can make a significant contribution to environmentally compatible production — which ALTANA has been working on successfully for years".

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.

AFFECTED SECTORS