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Image header Agence Europe
Europe Daily Bulletin No. 8716
Contents Publication in full By article 35 / 44
GENERAL NEWS / (eu) eu/eib

Loan to Finnish research and development in Industrial Technology

Luxembourg, 01/06/2004 (Agence Europe) - The European Investment Bank (EIB) provides a loan of EUR 135 million to Metso Corporation, a leading supplier of process industry machinery and systems to the pulp and paper industry. The loan will part-finance the Group's on going Research & Development programme over the 2003-2005 period in its papermaking machine and automation businesses, aimed at maintaining and developing technological leadership in these sectors. The operation involves the Group's three technology programmes; namely life-cycle technology development, industrial design development and materials technology research, focusing on the Metso Paper and Metso Automation business areas. The financing complies with the Lisbon Strategy, which is committed to take forward the conclusions of the Lisbon European Council, aimed at fostering the development of a knowledge and innovation-based European economy.

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