19.01.2015 – 10:30
Fewer emissions: KfW IPEX-Bank finances Georg Fischer environmental project in Germany
Frankfurt am Main (ots)
- EUR 48 million environmental loan for new casting facility (replacement investment) - Reduction of pollutant emissions - Financing including funds from the KfW Environmental Programme
With a loan in the amount of EUR 48 million, KfW IPEX-Bank is supporting a project carried out by Swiss company Georg Fischer in Germany. The loan will be used to finance a new casting facility for its Singen production plant - replacing an existing facility and having a direct impact on the environment: While achieving the same production capacity, the new facility will reduce emissions of air pollutants and also generate energy savings. Given the positive environmental impact, funds from the KfW Environmental Programme could be incorporated in the ten-year financing structure. The total investment costs amount to roughly EUR 55 million.
"Investments in environmentally compatible production facilities are worthwhile in two respects. Besides the pure environmental aspect, they offer economic benefits, too ", said Markus Scheer, member of the Management Board of KfW IPEX-Bank. "Financing environmental measures is part of our core business, where we have more than 60 years of experience."
At its site in Singen, Baden-Württemberg, Georg Fischer manufactures iron cast parts for passenger cars and commercial vehicles, including axles, longitudinal bearings and brake calipers. Its customers include many well-known car and commercial vehicle manufacturers, as well as supply-chain enterprises. The production capacity is approx. 200,000 tonnes per annum.
KfW IPEX-Bank GmbH, Palmengartenstraße 5-9, 60325 Frankfurt
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