EIB grants 15 million euro loan to System Spa

System Spa, the System Group’s parent company, was granted a 15 million euro loan by the European Investment Bank (EIB) on 14 April.

The loan will be used to finance R&D projects in Italy through to 2018, with a particular focus on innovative technology for tile decoration and finishing, integrated lines, the end-of-line stage, packaging and handling.

"This loan provides important recognition of the high quality of our company’s research projects," noted Franco Stefani, Chairman and founder of System. "We believe in the importance of innovation and in developing knowledge as a factor for differentiation and growth. We have created value by adopting a global vision, breaking down sectoral boundaries and combining advanced technology with human assets, and these continue to be our guiding principles."

System has more than 200 patents and each year invests around 5% of its turnover in R&D activities, a highly successful policy that has made it a major international player in industrial automation.

The funding is part of the EU’s new Horizon 2020 research programme for 2014-2020 which has launched a new generation of financial instruments called InnovFin (worth a total of 24 billion euros) and advisory services to help innovative firms access finance more easily.