The European Investment Bank (EIB) has loaned €75 million to Austrian aluminium producer AMAG.
AMAG will use the EIB loan to promote the digitalisation and environmental sustainability of manufacturing processes at the company’s plant in Upper Austria.
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 €168 million in the 2025-2028 period.
“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.”
Mr Nehammer and members of AMAG’s Board of Directors met at the company’s production site in Ranshofen.
The signing ceremony underscores the importance of the Ranshofen site to Europe’s industrial base.
The Ranshofen site 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 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% of revenue – the highest among western aluminium producers.
The company plans to develop 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.
