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KfW IPEX-Bank finances environmentally-friendly paint shop for BMW Group together with DZ BANK
Frankfurt am Main (ots) -
- High-tech facility to generate fewer emissions and boost energy efficiency - Project part of an extensive environment investment programme - Supporting Germany as a business location and contributing towards environmental and climate protection
Together with DZ BANK, KfW IPEX-Bank is financing a new innovative paint shop for the BMW parent plant in Munich, which meets the highest standards in terms of economic efficiency and the efficient use of resources. The new building is part of an extensive investment programme which will see BMW Group invest more than half a billion euros over the next years to make the Munich plant sustainable in the future.
Each of the banks is providing half of the EUR 161.6 million funding for the ultra-modern energy-efficient paint shop.
"Financing environmental measures is part of our core business," said Markus Scheer, member of the KfW IPEX-Bank Management Board upon the signing of the financing agreement. "Investments in environmentally-friendly production facilities are worthwhile in two respects as besides the commercial benefits there is also the benefit to society."
"We are setting new standards for the future, in particular with regard to the consumption of resources, sustainability and environmental protection," said Dr. Milan Nedeljkovic, Head of the BMW Group plant in Munich.
With an estimated energy saving of more than 30% compared with the former plant, the investment has not only qualified for the KfW energy efficiency programme but also meets the prerequisites for achieving the premium standard.
In detail, compared with the current paint shop, natural gas consumption and therefore exhaust gas emissions should be nearly halved. Electricity consumption will fall by a quarter. The target electricity saving is equivalent to the average annual electricity consumption of 4,000 two-person households. VOC emissions (volatile organic compounds) will be reduced by around a third, and in the case of exhaust air by two thirds. BMW Group already uses the technology in its vehicle plants in Oxford/Great Britain, Spartanburg/USA, Tiexi/China and Dingolfing/Germany.
About BMW Group
BMW Group, incorporating the BMW, MINI and Rolls-Royce brands, is the world's leading manufacturer of premium automobiles and motorcycles and provider of premium finance and mobility services. The international Group employs around 116,000 members of staff and operates 30 production and assembly facilities in 14 countries as well as a global sales network that is represented in more than 140 countries. The company has firmly integrated ecological and social sustainability throughout the entire value chain into its strategy along with comprehensive product responsibility and its clear commitment to conserving resources.
About KfW IPEX-Bank GmbH
Within the KfW Group, KfW IPEX-Bank is responsible for international project and export finance. Its function of providing financing to boost the German and European economy is derived from the legal mandate assigned to KfW. It offers medium- and long-term financing to support key export industries, to develop economic and social infrastructure and to fund environmental and climate protection projects. KfW IPEX-Bank operates as a legally independent group subsidiary and plays a major role in fulfilling KfW's promotional mission. It is represented in the most important economic and financial centres across the globe.
KfW IPEX-Bank GmbH, Palmengartenstraße 5-9, 60325 Frankfurt
Pressestelle: E-Mail: Thomas.Krick@kfw.de
Tel. 069 7431-8454, Fax: 069 7431-9409, E-Mail: