NIB has provided a EUR 70 million loan to Cargotec Corporation to finance the acquisition of the terminal operating systems provider Navis.
By acquiring Navis, the provider of the world's leading terminal operating systems (TOS), Cargotec Corporation will strengthen its ability to provide comprehensive solutions for terminals. Navis' systems help customers coordinate and automate the movement of containers and equipment in terminal and yard environments and enable customers to manage the operations of a single terminal or multiple terminals in different geographic locations from a central location.
"The acquisition not only supports Cargotec's strategy to focus on providing more comprehensive cargo handling solutions but it also joins the forces of the two companies' know-how in the field of improving terminal operations," says Johnny Åkerholm, NIB's President and CEO.
Cargotec is the world's leading provider of cargo handling solutions with approximately 11,000 employees in 160 countries. Cargotec Corporation was formed in June 2005 when Kone Corporation demerged into two companies to be listed: Cargotec and New KONE.
Navis' solutions are used in over 50 countries, providing the leading TOS system used in marine terminals, rail yard operations and distribution centres. The company was founded in 1988 and it has more than 300 employees with headquarters in Oakland, California.
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
Kim Krokfors, Senior Manager, Origination, tel. +358 10 618 0 517,
Kyra Koponen, Communications Officer, tel. +358 10 618 0297,
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