NIB finances SSAB's expansion in Sweden
(Thomson Reuters ONE) -
The Nordic Investment Bank (NIB) has provided a loan totalling USD 85 million to
Sweden's steel manufacturer SSAB to finance the expansion of one of the
company's plants in Borlänge, Sweden.
The 8-year-maturity loan will help finance the company's investment programme to
increase the production of high strength steel. The demand for quenched and
tempered steels, which provide products with high strength, low weight and high
durability, is growing.
"Industrial investments are of vital importance to safeguarding and enhancing
the competitiveness of NIB's member country enterprises," says Johnny Åkerholm,
NIB President and CEO.
"We are pleased to help finance SSAB's increased production of durable but light
steel products which can offer economic and environmental advantages compared to
less advanced steels," Mr Åkerholm says.
The main customers of quenched and tempered steels are within the manufacturing
and construction sectors, including car and truck manufacturers, as well as
manufacturers of components used for the production of wind power.
SSAB is a leading producer of high strength and quenched and tempered steels,
and has production plants in Sweden and the United states.
The Nordic Investment Bank is the common international financial institution of
the eight Nordic and Baltic countries. NIB provides long-term financing to the
energy, environmental, transport, logistics and communications, and innovation
sectors for projects that strengthen competitiveness and enhance the
environment. NIB has the highest possible credit rating, AAA/aaa, with the
leading rating agencies Standard & Poor's and Moody's.
For further information, please contact
Mr Lars Synnes, Senior Manager, Origination, at +358
10 618 0504,lars.synnes(at)nib.int
Ms Nina Monsen, Senior Communications Specialist, at
+358 10 618 0291,nina.monsen(at)nib.int
[HUG#1440457]
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Source: NIB NORDIC INVESTMENT BANK via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 27.08.2010 - 09:30 Uhr
Sprache: Deutsch
News-ID 40327
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Town:
Helsinki
Kategorie:
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