German press manufacturer, Heidelberger Druckmaschinen AG is set to receive a boost from the European Investment Bank (EIB) in the form of a Euro100m (A$149m) loan, to support the company’s growing digital strategy. The loan will fund Heidelberg’s research and development (R&D) program which it says will focus on digitisation, software integration and the expansion of its digital printing portfolio. Heidelberg is expected to draw on the loan in portions to support the program, which will run until 2024. Heidelberg Australia managing director Richard Timson told Australian Printer, “The additional funding will bring an influx of improved digital products that will become available to the Australian market.”
Loan: EIB to fund Heidelberg's digitisation strategy
Heidelberg says the aim of the R&D program is to pursue digital growth in the industry, in a bid to help print shops become more competitive. It also expects the loan will help further expand the company’s packaging and services sector. Heidelberg CEO Gerold Linzbach comments, “We see the digitised and industrially organised print shop as an essential element for successful business models in our sector in the future. Working with our partners, we want to develop futureproof products and services that will help our customers to be successful.” The EIB is the bank of the European Union. It was launched as a joint initiative by the EIB Group and European Commission with the aim to generate competition and high-quality jobs in Europe. It intends to do so by offering long-term finance for quality investment projects, known as the European Fund for Strategic Investments (EFSI), the main component of the Investment Plan for Europe. EIB vice-president Ambroise Fayolle says, “I am delighted that our first EFSI project for a German corporate customer allows us to support a company whose products and services have long enabled it to stand its ground in a challenging market. “Heidelberg proves that it pays to invest in research and development, and EFSI is helping to keep this innovative spirit alive in Europe.” This is not the first time Heidelberg has accepted outside funding, during the 2008/9 global financial crisis the German press manufacturer received $1.4bn from German state and federal governments.
Comment below to have your say on this story.
If you have a news story or tip-off, get in touch at editorial@sprinter.com.au.
Sign up to the Sprinter newsletter
