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Publish Date : 27-Feb-2019

The European Investment Bank (EIB) and Aperam announce the signature of a financing contract where the EIB will make available to Aperam an amount of EUR 100 million. The purpose of this contract is the financing of ongoing investments in the cold rolling, and annealing & pickling line at Aperams Genk plant (Belgium) as well as the companys ongoing modernisation programmes in the cohesion regions of Nord-Pas-de-Calais (France) Isbergues plant, and Hainaut (Belgium) Chtelet plant.

Timoteo Di Maulo, CEO of Aperam, commented: We are pleased to announce this financing contract with EIB on attractive financial terms. It will fully support Aperams Top Line Strategy and Leadership Journey. The Genk investment will further facilitate the transformation of Aperams business with state-of-the-art modern lines using the latest technology. This will enlarge our product range to incorporate the most demanding applications. It will also improve lead time and flexibility to satisfy market demand, increase efficiency and cost competitiveness of our assets, and continuously enhance our health, safety and environmental impact. Being consistent with our objective of sustainability, this financing also contributes to our plan of modernization of the industrial tools at our Isbergues and Chtelet plants.

EIB Vice-President Ambroise Fayolle said: The EIB is proud to continue supporting Aperam in its plant modernisation investments in France (Nord Pas-de-Calais) and Belgium (Chtelet) and also now to contribute to upgrading its Genk (Belgium) plant with advanced stainless steel manufacturing technology. Innovation, at the heart of competitiveness, is the best response against the challenges currently facing the stainless steel industry and the EIB is there to support it.

The EIB has made innovation a top priority and is keen to partner with companies that push innovation to the forefront for a growing economy. Aperams investment in its plants in Nord-Pas de Calais and Hainaut makes it a partner of choice for the EIB. Indeed, for the financing institution of the European Union, supporting EU cohesion policy is also one of the EIBs main objectives and operations in these areas accounted for about one third of its lending in 2018.

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