© firaxissmooke dreamstime.com Electronics Production | June 01, 2016
EIB backs Gorenje's research, development and innovation programme
The European Investment Bank (EIB) is lending EUR 50 million to Gorenje Gospodinjski aparati d.d., a manufacturer of household electrical appliances.
The EIB loan will finance the company’s 4-year research, development and innovation expenditure programme aimed at strengthening its innovative capacity by developing new domestic appliances and upgrading its existing product range. This is the first transaction in Slovenia supported by “InnovFin – EU Finance for Innovators’ InnovFin Large Projects”, with the financial backing of the European Union under Horizon 2020 Financial Instruments. Franjo Bobinac, President and CEO of the Gorenje Group, stated: “Our Strategic Plan 2016-2020 is summed up by the slogan G4: Gorenje Group Grows Global. Its driving force is the development of premium and innovative products and premium brands as these are expected to double and increase to 30 percent of the Group's sales by 2020. We see the EIB loan as an expression of confidence and support for achieving our ambitious strategic goals and further developing the Gorenje Group”. The RDI activities will be carried out mainly at the Research and Development Centre in Gorenje’s headquarters in Velenje, Slovenia and also in other R&D locations of the company in the Netherlands, Sweden and the Czech Republic.