Multiscale modelling has recently emerged as an important tool in computational materials physics. By combining different time and length scales, it is now possible to understand in detail many industrially relevant processes in materials and, on the other hand, design new materials starting from physical principles. In this Action, new multiscale methods are developed and applied to a wide range of physical phenomena such as fracture mechanics and other mechanical properties, chemical reactions, micromagnetism and polymer processing. The Action brings together European researchers from universities and other research institutions working on the development of new materials. Four working groups concentrated on these issues exchange ideas in order to advance our fundamental understanding of various phenomena occurring in real materials on different scales.