Sweden. Electrolux AB
| Date of agreement: | 12 Jun 2013 |
|---|---|
| Country: | Sweden |
| Customer: | Electrolux AB |
| Amount in SEK: | SEK 1,000 million |
| Amount in EUR: | EUR 115.2 million |
| Maturity: | 8 years |
| NACE sector / loan type: | Research and development |
Project
The loan has been provided for Electrolux research and development activities in 2012-2015. The R&D initiative is a key component of Electrolux strategic aim to implement a faster product development process in order to be able to launch more innovative products in key markets. Approximately half of the R&D investments will be carried out in Sweden.
The main areas targeted by the investments are dish care, small appliances, professional laundry and food preservation.
The Electrolux group, with sales of SEK 110 billion and 61,000 employees, is a global leader in household appliances and appliances for professional use. The company sells more than 40 million products to customers in more than 150 markets every year.
Fulfilment of NIB's mandate
The loan is aimed at R&D activities that will increase Electrolux R&D expenditures, particularly in Sweden. It is expected that the investment will lead to spill-over effects enhancing productivity growth of the company as well as the sector at large. The company’s R&D activities also include research collaboration with, among others, three universities in Sweden.
Sustainability summary
No significant direct social or environmental impacts are expected due to the R&D programme.