|Date of loan:||16 Feb 2017|
|Amount in EUR:||EUR 40 million|
|NACE sector / loan type:||Manufacture of machinery and equipment n.e.c.|
|Industries and services|
The loan has been provided to finance Wärtsilä’s acquisitions of the Finnish software engineering company Eniram Oy and of American Hydro, a leading supplier for the hydroelectric industry.
Based in Helsinki, Eniram develops digital energy management technology that is aimed at reducing fuel consumption and emissions in the maritime industry. Eniram’s solutions can be used for ships at both vessel and fleet levels, including cruise liners, tankers, container ships, bulkers and ferries.
American Hydro is a provider of large equipment upgrades for the hydroelectric and water distribution industries, and specialises in high-performance turbines and pumps. American Hydro is headquartered in York, Pennsylvania, and operates a service centre in Montreal, Canada. The acquisition was completed in June 2016, and the company is now part of the Wärtsilä Service business.
Originally Finnish, the Wärtsilä Corporation is a global leader in complete lifecycle marine and energy solutions. It has operations in more than 200 locations in nearly 70 countries around the world.
The acquisition of Eniram Oy will broaden Wärtsilä’s digital product portfolio and strengthen its ship management and analytical infrastructure. For Eniram, a Finnish clean-tech enterprise, the bundling of its services with Wärtsilä’s is expected to grow its customer base. Further, the project is likely to have positive spill-over effects on the marine cluster in NIB’s member area.
The acquisition of American Hydro expands Wärtsilä’s hydropower and industrial service offering to the North American and Latin American markets, and thereby supports its growth strategy.
No significant environmental risks connected to the acquisitions have been identified.
A loan to Lidl Suomi Ky will finance the construction of a new warehouse in Järvenpää and investments in new Lidl stores in Finland.
16 Jun 2017
On 18 July, the EU High-Level Expert Group on Sustainable Finance will arrange a public hearing on the its interim report. Stakeholders are encouraged to provide feedback to the European Commission and the Group on ways to establish a more sustainable financial system.
14 Jun 2017
The project is part of a NIB-co-financed investment programme of improving wastewater treatment in the country.
8 Jun 2017