The European Investment Bank (EIB) is lending AMAG Austria Metall AG, Austria's leading aluminium producer, EUR 75 million for technological advances in research, development and manufacturing. AMAG will use the EIB loan to develop cutting-edge aluminium products and to promote the digitalisation and environmental sustainability of manufacturing processes at the company's plant in Upper Austria.

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The financing represents the first loan in Austria by the EIB under its TechEU programme to accelerate industrial innovation in Europe. The credit contributes to AMAG investments that have total projected costs of EUR168 million in the 2025-2028 period.

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"This is a flagship example of strategic investment in research, digitalisation and sustainable production," said EIB Vice-President Karl Nehammer. "We are supporting one of Europe's most technologically advanced industrial players and, in the process, strengthening Europe's competitiveness and industrial resilience."
He and members of AMAG's Board of Directors met at the company's production site in Ranshofen. The signing ceremony underscores the importance to Europe's industrial base of the Ranshofen site, which employs 2000 people.

"The EIB financing enables us to implement long-term innovation projects and further expand our technological position," said AMAG Chief Executive Officer Dr. Helmut Kaufmann. "With one of the world's most modern plants, strong recycling expertise and intensive R&D activities, we set benchmarks in sustainable materials development."
More than half of AMAG's products are specialised high-value applications used in industries including automotive and aerospace. In 2024 AMAG had an R&D intensity of 1.6 per cent of revenue - the highest among western aluminium producers. The company develops, among other things, innovative rolled and cast aluminium products for use in a wide range of industries, including the aircraft, automotive, sporting goods, lighting, mechanical engineering, construction, and packaging industries.

In addition to supporting Europe's industrial competitiveness, sustainable growth and digital transformation, the EIB loan advances a European Union goal to secure a sustainable, diversified and stable supply of critical raw materials, which include aluminium. The operation benefits from backing under the InvestEU programme.

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Note: This article has been issued by AMAG and has been published by AL Circle with its original information without any modifications or edits to the core subject/data.