The European Investment Bank (EIB) is to make a GBP 65 million loan to glassmaker NSG UK Enterprise Limited, which trades under the Pilkington brand, to help upgrade its production facilities in St He…
The European Investment Bank (EIB) is to make a GBP 65 million loan to glassmaker NSG UK Enterprise Limited, which trades under the Pilkington brand, to help upgrade its production facilities in St Helens, Merseyside, and fund research and development (R&D) into new processes and products. NSG UK will be the first British company to benefit from the Risk Sharing Finance Facility (RSFF) set up by the EIB jointly with the European Commission in June 2007 to make finance for research, development and innovation available to a wider range of companies. NSG UK is investing a total of GBP 130 million (approximately EUR 163 million) in the project to modernise its Greengate float glass plant and fund R&D at its research centres in Ormskirk, Lancashire, and Gelsenkirchen and Witten in Germany. Approximately 65% of the project“s total costs are related to R&D. The project will improve energy efficiency at the Greengate plant, thereby cutting CO2 emissions, and protect jobs in the area, which qualifies for assistance under the current EU structural funds programme (2007-13).