All agreed loans

Sweden. Electrolux AB

Date of loan: 31 Mar 2008
Country: Sweden
Customer: Electrolux AB
Amount in USD: USD 100 million
Amount in EUR: EUR 63.2 million
Maturity: 8 years
NACE sector / loan type: Manufacture of machinery and equipment n.e.c.
Business area: Industries and services

Project

The loan has been provided to finance investments in four new plants in Poland: in Siewierz, Zarow, Olawa and Swidnica. The investments cover four product groups: dryers, dishwashers, washing machines and cookers. With its prime geographic location, the Polish production units will serve as a hub for the rapidly growing Eastern European markets as well as parts of Western Europe.

The project is part of the Electrolux Group's restructuring programme started in 2004 and aimed at creating a competitive production structure in the long term. In the next few years, Electrolux will launch a constant flow of new, innovative products. Electrolux is a global leader in home appliances and appliances for professional use, selling more than 40 million products to customers in 150 countries every year.

Sustainability summary

The main environmental issues are the disposal of spent washing liquids from the degreasing baths used to clean parts before painting as well as air emissions from the painting and enamelling processes. Both issues will be taken care of in an environmentally sound manner using modern techniques and in accordance with best available techniques. All the sites will implement environmental management systems according to ISO 14 000.