OUTOTEC OYJ PRESS RELEASE SEPTEMBER 25, 2012 at 10.30 AM
Outotec granted R&D loan by European Investment Bank
The European Investment Bank has granted a EUR 45 million loan to Outotec Oyj to finance the development of minerals and metallurgical processing technologies as well as industrial water treatment and energy related applications.
This loan with up to 11-year repayment period was signed in Helsinki, Finland today. Outotec will invest the funds during 2012 - 2015 in research activities focusing on the development of sustainable technologies that enable Outotec's customers to maximize the recovery of minerals and minimize environmental impacts, while conserving energy, natural resources, and capital investments.
Outotec has state-of-art research facilities in Pori, Finland, and in Frankfurt, Germany, and company's total expenditure in research and development was EUR 33.5 million in 2011. Innovative research at in-house R&D facilities, networking with universities and research institutions, and continuous development work in collaboration with the customers has made Outotec a leading developer of technology in the minerals processing and metallurgical industry.
"We are happy to sign this agreement with Outotec, which will bring substantial benefits to investing in research, development and innovation related to minerals and metallurgical processing technologies. These are key considerations for the EIB's involvement in the world's metals production, water treatment and cleantech sector," said Pim van Ballekom, EIB Vice-President responsible for lending in Finland.
"This R&D loan is highly appreciated as it is an important building block in the long-term funding of investments in research and development work. Forefront R&D operations are the key to retain the position of the leading metals processing technology supplier in the rapidly changing global market. This loan further strengthens Outotec's already solid financial position," says Mikko Puolakka, CFO of Outotec.
For further information please contact:
Mikko Puolakka, CFO
Tel. +358 20 529 2002
Eila Paatela, Director - Corporate Communications
Tel. +358 20 529 2004, mobile +358 400 817198