The European Investment Bank (EIB) has loaned 10 million euros to Danobat Group for its R&D activities in the field of machine tools.
The EIB loan will support investments linked to three types of products: grinding, turning and equipment for manufacturing composite structural parts, in order to develop new solutions in these fields. Danobat Group, the first Spanish machine tool manufacturer, is a group associated with the Mondragon Corp., which employs 1,180 workers. The EIB loan supports the group's strategy for sustained R&D, whose research focuses on high-value advanced manufacturing, and who spends 9% of its turnover for innovation purposes.
The R&D investments will be carried out in Spain and will be implemented until 2017.
The activities are in line with the EU’s priority objectives under Horizon 2020 and are relevant to increase the technological base of EU manufacturing and the competitiveness of the European machine tool industry.