Sandvik secures €500m EIB loan to support R&D investments
Sandvik has signed a loan agreement for €500 million with the European Investment Bank (EIB) to support its investments in research and development (R&D).
According to the Swedish engineering company, the R&D investments will be made in advanced solutions in component manufacturing and in solutions for electrification and automation in infrastructure and mining.
The EIB loan, which has a tenor of seven years, will support the R&D investment plans of Sandvik until 2025.
Stefan Widing — Sandvik President and CEO said: “We have a strong strategic focus on developing solutions that improve sustainability, productivity and safety in our core industries of mining, component manufacturing and infrastructure.
“The EIB cooperation will support our R&D initiatives and our aim to stay at the forefront and develop our technology leadership.”