15 Mar 2024

NIB finances packaging acquisitions and digital advancements in Sweden

The Nordic Investment Bank (NIB) has signed a 7-year EUR 50 million loan agreement with Swedish industrial packaging company Nefab Group AB to support its acquisitions of US PolyFlex Products Inc. and Swiss Cargopack group AG, as well as digitalisation investments from 2023 to 2027.

PolyFlex’s expertise in engineered solutions, prototyping, and manufacturing complements Nefab’s offerings in industrial packaging and logistics. The acquisition provides an opportunity for Nefab to further strengthen its market position in the Americas and in the important lithium-ion battery (LiB) and E-mobility segments.

The acquisition of the industrial packaging company Cargopack group AG in Switzerland will bring Nefab closer to its customers and provide new technical capabilities and business concepts.

In addition to the acquisitions, Nefab has initiated a digital transformation project to enhance efficiency, quality and opportunities, increasing automation across Nefab’s global sites.

“NIB’s loan to Nefab shows our dedication to advancing sustainability in the packaging industry.  Together, we are fostering a greener future,” says Patrick Nylund, Senior Banker at NIB.

With more than 75 years of experience, Nefab offers global solutions and local services worldwide to companies in industries such as telecom, data communication, semiconductors, energy, healthcare equipment, mining and construction, and LiB and E-mobility. Nefab Group has over 4,700 employees across 38 countries. Nefab is owned by the founding family Nordgren/Pihl (50%) and the Wallenberg foundations’ investment holding company FAM AB (50%).

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. 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
Patrick Nylund, Senior Banker, at +358 10 618 0329, Patrick.Nylund@nib.int

David Rasmusson, Communications, at +358 50 476 3071, David.Rasmusson@nib.int

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Nefab Group AB

EUR 50 million