All agreed loans

Finland. Fiskars Corporation

Date of loan: 15 Feb 2008
Country: Finland
Customer: Fiskars Corporation
Amount in EUR: EUR 30 million
Maturity: 10 years
NACE sector / loan type: Manufacture of chemicals and chemical products
Business area: Industries and services

Project

The 10-year-maturity loan totalling EUR 30 million has been granted to Fiskars Corporation for the acquisition of the Finnish houseware design company Iittala Group Oy Ab, which will form a new European operation unit within the corporation and include certain parts of Fiskars' own houseware division.

The acquisition will strengthen Fiskars and make it a leader on the housewares market, especially in the Nordic region. The company will thereby add to its brand portfolio some of the most prestigious brands in Scandinavia, such as Iittala, Arabia, Hackman, Rörstrand, Höganäs Keramik, BodaNova and Høyang-Polaris.

Fiskars is an international corporation with roots in the Fiskars ironworks founded more than 350 years ago in southwest Finland. Today, Fiskars is a supplier of consumer goods such as scissors, knives, axes and other similar products, and garden equipment. Fiskars employs some 4,500 people around the world.

Sustainability summary

Fiskars' acquisition of Iittala is neutral in respect to environmental impacts. Key environmental issues are potential environmental liabilities at Iittala's production plants. A satisfactory due diligence investigation has been conducted at Iittala's facilities.