SOGEFI: 40 MILLION LOAN OBTAINED FROM THE EIB TO FUND INNOVATION

The credit facility is for the research and development program 2009-2012, which involves a total investment of 115 million. The group aims to produce new generation parts able to reduce fuel consumption and vehicle emissions. The loan is guaranteed for 50% by SACE

Milan, January 20 2011 - Sogefi (CIR group), one of the main world operators in the production of filters and suspension components for motor vehicles, has obtained a loan of 40 million euro from the European Investment Bank (EIB) to finance its research, development and innovation program 2009-2012, which involves a total investment of approximately 115 million euro.

The agreement with the EIB was reached following an in-depth analysis of the research and innovation programs of the Sogefi group. The loan has a maximum maturity of six years and is guaranteed for 50% by the Italian insurance and financial group SACE.

More specifically, the loan is for the research and development activity conducted by the Sogefi group in France and Italy in the suspension components and filter divisions with the aim of developing products able to play a part in reducing the fuel consumption and carbon dioxide emissions of motor vehicles. 

In the suspension components division, the research and development activity is directed towards reducing the weight of the products by improving the production processes and using new materials, which will also limit the current dependence on steel.

In the filter division research is aimed at developing lighter products with enhanced performance through a greater use of plastic materials and the inclusion of new functionalities in the oil, fuel and air filter systems.