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Tue March 19 2024

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Atlas Copco gets €300m loan for R&D

22 Jan 15 Atlas Copco has secured a €300m (£229m) loan from the European Investment Bank (EIB) to develop cleaner, safer and more efficient equipment.

EIB’s Jonathan Taylor with Ken Lagerborg of Atlas Copco
EIB’s Jonathan Taylor with Ken Lagerborg of Atlas Copco

The loan will support the development of new products in the manufacturing, construction and mining sectors. The company’s activities in research, development and innovation - mainly based in Sweden and Belgium - also involve close cooperation with European universities and research institutes, helping to disseminate the technologies.

Jonathan Taylor, EIB vice-president with responsibility for lending in Sweden, said: “We are glad to sign this agreement with Atlas Copco, a global leader in the technology of compression, mining and rock excavation. This will support innovation in a key area of the economy, reduce carbon emissions, improve energy efficiency, and enhance the safety of workers.”

The project will start this year and run until 2018, with some 1,350 Atlas Copco employees directly involved in the research and development work. Taylor added: “Projects such as this strengthen the competitiveness of European companies, so enhancing Europe’s position as a major technology supplier and supporting skilled employment opportunities.”

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