Sweden. Sandvik AB
| Date of agreement: | 23 May 2007 |
|---|---|
| Country: | Sweden |
| Customer: | Sandvik AB |
| Amount in SEK: | SEK 500 million |
| Amount in EUR: | EUR 54.4 million |
| Maturity: | 10 years |
| NACE sector / loan type: | Manufacture of basic metals |
Project
The loan is aimed at financing Sandvik AB’s investment in a new steel hot rolling mill within the existing premises of the company’s industrial area in Sandviken, central Sweden. The new mill will replace an old one and improve product quality, reduce down-time and increase output by 40% to 400,000 tonnes. The project of the new hot rolling mill is a result of continued R&D efforts. The Sandvik Group is a high-tech engineering group with operations in 130 countries. Exporting 90% of its output, Sandvik is one of Sweden’s largest export companies. Sandvik was established in 1862 and has been listed on the Stockholm Stock Exchange since 1901.
Sustainability summary
The replacement of the old hot rolling mill is expected to lead to a substantial reduction of emissions. However, the overall increase in production output will result in an insignificant net increase of CO2 emissions.