Spanish auto-parts supplier Gestamp Automocion has received a EUR150m loan from the European Bank for Reconstruction and Development (EBRD) to upgrade its facilities in Russia, Poland, Hungary and Turkey that supply assembly lines set up by key international car makers.
About 80% of the funding will be invested in Russia and Turkey, with its investments in Russia will be towards robotics, laser equipment as well as other advanced technology for its facilities in Kaluga, St. Petersburg and Tolyatti.
Further, the company will invest in its two Turkish plants in Bursa and one in Gebze for installation of new hot stamping lines, presses and welding robots for the Renault Clio and Ford Transit projects, in addition to a new assembly line for the Ford Fiesta models.
EBRD Industry, Commerce and Agribusiness managing director Alain Pilloux said: "This transaction will facilitate the transfer of state-of-the-art technology and skills to the domestic supply chain in these countries, as well as promote the localisation of passenger car assembly by the world's leading automakers."
By 2016, the auto-parts supplier is planning to invest about EUR255m, which is part of its strategy to promote long-term relationships with major clients on a global scale.
Gestamp designs and manufactures metal components for automakers including Audi, Fiat, Ford, GM, Hyundai, Mitsubishi, PSA, Renault-Nissan and Volkswagen.
