Today on 12 February 2019, the second EUR 40m tranche was signed to facilitate Research and Development – supported by the Juncker Plan.
Wien (OTS) – The European Investment Bank (EIB) is providing Austrian lighting company Zumtobel Group with the second EUR 40m tranche of an EUR 80m financing programme to strengthen its research and development activities. The EIB loan is backed by a guarantee from the European Fund for Strategic Investments (EFSI). EFSI is an essential pillar of the Investment Plan for Europe – also known as the Juncker Plan – under which the EIB and the European Commission are working together as strategic partners and the EIB’s financing operations are boosting the competitiveness of the European economy.
The Zumtobel Group is an international lighting group and a leading supplier of innovative lighting solutions, lighting components and associated services. It is the European market leader for professional lighting systems and components.
Andrew McDowell, EIB Vice-President responsible for financing in Austria, said: “Research, development and innovation are key ingredients for ensuring sustainable growth and creating high-value jobs. For the EIB, this is a top priority. I therefore very much welcome this new partnership with Zumtobel Group, one of Austria’s most research-intensive company.”
European Commission Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness, said: „Corporate Research & Development is essential to maintain Europe’s leadership in the field of innovation. Thanks to this new Investment Plan agreement, Zumtobel will strengthen its competitiveness and keep on developing new products in the lighting sector. This is good news for the Austrian and the European economy as a whole.“
Zumtobel Group CFO Thomas Tschol added: “In an increasingly interconnected digital world, product innovation is the key to long-term success. As a global lighting industry player, we invest heavily in the development of new products. The EUR 80m in EIB financing is therefore an important contribution to forging ahead with Zumtobel Group’s innovation leadership.”
Note to editors:
European Investment Bank
The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.
The Zumtobel Group is an international lighting group and a leading supplier of innovative lighting solutions, lighting components and associated services. With its core brands, Zumtobel, Thorn and Tridonic, as well as acdc, ThornEco, and Zumtobel Group Services (ZGS), the Group offers its customers around the world a comprehensive portfolio of products and services. The Group’s know-how about the effects of light on people, acquired over decades, forms the basis for the development of innovations and for accessing new fields of business. In the lighting business, the Group with its Thorn, Zumtobel and acdc brands is the European market leader. The ThornEco brand serves the electrical wholesale sector with a tailored portfolio of products. Through its lighting components brand, Tridonic, the Zumtobel Group plays a leading role worldwide in the manufacture of hardware and software for lighting systems (LED light sources and LED drivers, sensors and lighting management). Zumtobel Group Services offers one of the most comprehensive service offerings in the entire lighting industry, including consultation on smart lighting controls and emergency lighting systems, light contracting, design services and project management of turnkey lighting solutions, as well as new, data-based services focused on delivering connectivity for buildings and municipalities via the lighting infrastructure. The Group is listed on the Vienna Stock Exchange (ATX Prime) and on the balance sheet date (30 April 2018) employed 6 224 people. In the 2017/18 financial year, the Group posted revenues of EUR 1 196.5m. The Zumtobel Group is based in Dornbirn in the Vorarlberg region of Austria. For more information, visit www.zumtobelgroup.com
Investment Plan for Europe
The Investment Plan for Europe (the Juncker Plan) is one of the EU’s key actions to boost investment in Europe, thereby creating jobs and fostering growth. To this end, smarter use will be made of new and existing financial resources. The EIB Group is playing a vital role in this investment plan. With guarantees from the European Fund for Strategic Investments (EFSI), the EIB and the European Investment Fund (EIF) are able to take on a higher share of the risk in projects, encouraging private investors to participate in these projects. EFSI was initially intended to mobilise investment of EUR 315bn throughout the EU over a period of three years until mid-2018. In December 2017, the European Parliament and Member States reached an agreement to extend the duration of EFSI to 2020 and increase its financial capacity to EUR 500bn. In addition to EFSI, the new EIAH advisory platform helps public and private-sector project promoters to structure investment projects more professionally. The investment plan should also create a more investment-friendly EU regulatory environment, particularly in the digital, energy and capital markets sectors.
EIB: Christof Roche, email@example.com, tel.: +352 4379 89013, mobile: +32 479 65 05 88
Zumtobel Group: Marina Konrad-Märk, Head of Corporate Communications, firstname.lastname@example.org, tel.: +43 (0) 5572 509 575
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