-Fresh financing will be used for research, development and innovation
-Financing provided under Investment Plan for Europe, or Juncker Plan
The European Investment Bank (EIB) is providing a €50m loan to Ensinger GmbH, a privately-held mid-cap company in Germany, focusing on the manufacturing of specialised finished and semi-finished high-performance engineering plastics products for a variety of industries and applications. The EU bank’s loan is backed by a guarantee from the European Fund for Strategic Investments (EFSI), the heart of the Investment Plan for Europe - 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.
Ensinger will use the fresh financing for investments in research, development and innovation in the field of high-tech engineering plastics manufacturing and applications, in manufacturing equipment and machinery and in buildings to support the company´s growth over the period 2019-2021. The transaction is the EU bank’s first operation with Ensinger.
Commissioner Günther H. Oettinger, in charge of Budget and Human Resources, said: “This is yet another example of how the EU budget - and the Juncker Plan in particular - delivers added value for EU citizens. With today’s decision, the EU is creating fresh opportunities for research and innovation in Germany and in Europe and making sure that European companies are in a good position to grow, generate more jobs and expand to new markets.”
Ambroise Fayolle, EIB Vice-President responsible for financing in Germany, said: “Our loan will catalyse Ensinger’s medium-term growth strategy by providing the company its first unsecured term loan in support of its pivotal RDI and technology investments. This deal has been made possible by the backing of the Juncker Plan. It is an excellent example of the value added that Europe provides for innovative businesses to boost growth and jobs in Germany.”
Peter Kamps, Ensinger Group’s CFO, commented: "The further development of processing technologies, new applications and international expansion are key factors in maintaining and consolidating Ensinger’s strong global market position. This requires ongoing high investments in research, development, innovation and manufacturing. The long-term EIB loan is a substantial element of our financial structure and will support the funding of the Ensinger Group’s growth activities."
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 Ensinger Group is engaged in the development, manufacture and sale of compounds, semi-finished materials, composites, technical parts and profiles made of engineering and high-performance plastics. To process the thermoplastic polymers, Ensinger uses a wide range of production techniques, such as extrusion, machining, injection moulding, casting, sintering and pressing. With a total of 2 500 employees in 33 locations, the family-owned enterprise is represented worldwide in all major industrial regions, with manufacturing facilities or sales offices. www.ensingerplastics.com
Investment Plan for Europe
The Investment Plan for Europe, known as the Juncker Plan, is one of the European Commission’s top priorities. It focuses on boosting investment to generate jobs and growth by making smarter use of new and existing financial resources, removing obstacles to investment, and providing visibility and technical assistance to investment projects.
The European Fund for Strategic Investments (EFSI) is the main pillar of the Juncker Plan and provides first loss guarantees, enabling the EIB to invest in more projects that often come with greater risks. EFSI has already yielded tangible results. The projects and agreements approved for financing under EFSI are expected to mobilise almost €380bn in investments, including €35.2bn in Germany, and support 842 000 SMEs in the 28 Member States.
More information on the results of the Investment Plan for Europe is available here.