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A commitment to innovation supported by the EIB

 

TUBACEX promotes INNOVATION with EIB's support

TUBACEX Group has promoted its innovation plan thanks to the trust placed by the European Investment Bank through a loan agreement worth 65 million Euros. This agreement represents a major backing for TUBACEX innovation capacity to become a global provider of tubular solutions

The agreement within the InnovFin program enables companies like TUBACEX which consider innovation a priority focus of their business, to access advantageous financing conditions.

In particular, the loan fosters TUBACEX innovation strategy from a threefold perspective: new product R&D activities; developing their corporate R&D center; and advanced manufacturing and new technologies.

This agreement not only represents a recognition of TUBACEX innovation strategy but it also demonstrates EIB's support of the investment plan presented by the Company and which the European body has agreed to fund.

Moreover, the agreement facilitates reinforcing the Group financial position since it is a competitive funding over a very long period (10 years). And this strength enables the Group to face with relative confidence the current weak market situation while maintaining its commitment to innovation through investment as the basis of future growth.