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© Zumtobel Group Business | February 13, 2019

EIB provides a total of €80 million to Zumtobel Group

The European Investment Bank (EIB) is providing the Austrian lighting company Zumtobel Group with the second EUR 40 million tranche of an EUR 80 million financing programme to strengthen its research and development activities.
The EIB loan is backed by a guarantee from the European Fund for Strategic Investments (EFSI). “Research, development and innovation are key ingredients for ensuring sustainable growth and creating high-value jobs. For the EIB, this is a top priority. I therefore very much welcome this new partnership with the Zumtobel Group, one of Austria's most research-intensive company,” Andrew McDowell, EIB Vice-President responsible for financing in Austria, says in a press release. Zumtobel Group CFO Thomas Tschol added, “In an increasingly interconnected digital world, product innovation is the key to long-term success. As a global lighting industry player, we invest heavily in the development of new products. The EUR 80m in EIB financing is therefore an important contribution to forging ahead with Zumtobel Group's innovation leadership.”
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February 22 2019 2:26 pm V12.2.6-2