Metso loan facility
May 31, 2004 By Pulp & Paper Canada
Metso Corporation and the European Investment Bank have signed a research and development loan agreement for the am…
Metso Corporation and the European Investment Bank have signed a research and development loan agreement for the amount of EUR 135 million. The capital is being used to improve Metso’s pulping, papermaking and process automation technologies. Key areas of research and development interest are being focused on operational efficiencies during the entire life cycle of customer’s installed machinery and systems base.
According to the terms of the loan agreement, funds may be accessed within 18 months of signing. The comprehensive loan period will be 10 years with installments starting three years from each draw down.
In 2003 Metso’s research and development expenditures totaled EUR 141 million.
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