29.05.2012

€55 million R&D loan for Cargotec

Cargotec, owner of Hiab and Kalmar, has signed a €55 million Research & Development loan agreement with the European Investment Bank.

The 10 year loan agreement is intended to finance research and development activities for the development of cargo handling solutions and related technologies.

Cargotec says that the facility will foster its efforts towards the development of new technologies and equipment for industrial and on-road load handling applications, for ports and container handling as well as for marine cargo and offshore load handling.

Included in the financing are also equipment and test facilities for Cargotec's new Technology and Competence Centre in Tampere, Finland.
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The EIB

The European Investment Bank is owned by the EU, its shareholders being the 27 member states of the Union, which have jointly subscribed its capital. The banks board of governors is composed of the member’s finance ministers. The bank’s role is to provide long-term finance in support of investment projects.