Luxembourg, 03/02/2004 (Agence Europe) - The EIB has just signed a loan of EUR 60 million with Böhler-Uddeholm Group, one of the world leaders in tool steels. This loan will finance an investment programme resulting in production modernisation and extension and R&D investment for the development of the metallurgy of special, high grades steels. According to the bank the project will help to maintain employment opportunities in areas that have been affected by the decline and restructuring of their traditional industrial activities. These innovative investments, out of which approx. 20% directly cover R&D, are in alignment with the EIB lending priorities. The investments will be implemented at Böhler-Uddeholm's production facilities in Austria and Sweden, located in assisted regions that have been designated as Objective 2 areas for allocations of the European Union's Structural Funds. The banks underlines that the loan will help to safeguard approximately 4,500 direct manufacturing jobs, thus bolstering these regions' social economic structure that is facing a challenge of structural changes.