TUBACEX Group, Spanish manufacturer of stainless steel and high-alloyed seamless tubes, and the European Investment Bank, EIB, have signed a loan agreement for EUR 65M to promote the company’s R&D&I activities.
It is the first loan received by TUBACEX from the EIB and represents important support to the Group’s commitment to the development of tubular solutions that provide an added value for customers. More specifically, this agreement will drive the company’s innovation strategy from a triple perspective: new product research and development activities; development of its corporate R&D centre and advanced manufacturing and new technologies. TUBACEX has received this financing within the framework of the InnovFin program, implemented by the EIB with the financial support of the European Union, which facilitates access to finance for innovative businesses. With this loan, the company will not only foster its innovation strategy but it will also strengthen its financial position.
According to the CEO of TUBACEX, Jesús Esmorís, this loan recognizes and encourages a priority area for the company: “this agreement promotes the development of innovative solutions for our customers, taking a qualitative leap in the traditional view of our sector towards products and services with greater added value”.
