Business News

Kolektor Gets EUR 14.1m Loan for Car Parts Development

Ljubljana, 02 December (STA) - Kolektor, the Idria-based industrial group, received a EUR 14.1m eight-year loan from the SID development and export bank Wednesday for the development of products for the car industry.

Kolektor will use the money for new and innovative solutions which will help it affirm its position as a leading supplier of global companies such as Bosch, Brose, Continetal, Valeo and Pierburg, the company said.

This is the third loan to a car parts supplier that the SID bank granted this week.

Cimos received EUR 40m for two projects involving the development of car parts and Alpmetal got EUR 400,000 for the development of an engine part for small alt-fuel vehicles.

The money comes from SID's EUR 136m automotive industry fund comprising EUR 80m in European Investment Bamk (EIB) financing and EUR 56m of SID's own money.

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