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Luxembourg : Investment plan: EIB provides EUR 180 million to SNF group to finance R & D and a new plant
Publish Date : 20-Feb-2019
The European Investment Bank has granted a 180 million loan to SNF Group, a specialty chemicals chemist and world leader in water chemistry.
EIB financing under the European Fund for Strategic Investments - EFSI, the heart of the "Juncker Plan" - will support the group in its research and development program over the next four years. But it is also intended for the construction of a new SNF factory in Gravelines, at the western port of Dunkerque (Hauts de France). In the short term between 160 and 180 permanent jobs will be created on this new site.
Commissioner Pierre Moscovici, in charge of economic and financial affairs, taxation and customs, said: "I am very pleased that the European Investment Bank and the SNF Group are signing this agreement with the support of the Juncker Plan. loan of 180 million euros will not only allow this specialist in chemistry to create new products, but also to build an additional site in the region of Dunkirk.This European aid shows again that Europe is acting to strengthen the in the Hauts-de-France region. "
Ambroise Fayolle, Vice President of the European Investment Bank, said: "This loan is a very important operation for the EIB - Bank of the European Union - as it reinforces our commitment to support innovation across Europe. We are also committed to the reindustrialisation of so-called cohesion territories, especially in the Hauts-de-France region where the future factory will be built. "
Pascal Remy, CEO of the SNF Group said: "We are very pleased with the support provided by the EIB and have been impressed by the professionalism and pragmatism of its teams".
