All agreed loans

Finland. Rettig Group

Date of loan: 11 Dec 2008
Country: Finland
Customer: Rettig Group
Amount in EUR: EUR 20 million
Maturity: 10 years
NACE sector / loan type: Manufacture of fabricated metal products
Business area: Industries and services

Project

The 10-year-maturity loan totalling EUR 20 million has been provided for the expansion of the company's radiator production facilities in Poland and Ireland. The existing capacities are being increased in order to optimise the cost structure of the production located close to the main markets. In 2006-8, the Rettig Group has invested about EUR 200 million in boosting its competitiveness.

A family-owned company headquartered in Finland with more than 200 years of business history, the group is a leading producer of indoor climate comfort (ICC) goods and equipment, such as radiators, underfloor heating as well as valves and controls for heating systems. Rettig runs 16 plants in ten countries across Europe and is a supplier to sanitary and heating wholesalers based in more than 50 countries.

Sustainability summary

The Rettig Group's investments in its ICC manufacturing operations are regarded as having a marginal and manageable effect on the environment. All Rettig ICC manufacturing plants are certified in accordance with ISO 14001. All the investments are to comply with applicable laws and regulations and receive the necessary permits.