17 Oct 2012

NIB to finance Danish FLSmidth’s innovation programme

NIB and the Danish engineering company FLSmidth & Co. A/S have signed a loan agreement totalling EUR 130 million earmarked for the company’s R&D investments.

The 7-year-maturity loan will finance FLSmidth’s global R&D programme for the cement and mineral industries in the period of 2013–2015. The research will be focused on developing new products, enhancing energy efficiency and use of material and fuel in the production process, as well as cutting harmful emissions. The total budget of the programme amounts to EUR 260 million.

“This project supports innovation and knowledge accumulation in the member-area heavy industries. It will eventually have a positive impact on the competitiveness of the Bank’s member countries,” says Henrik Normann, NIB President and CEO.

FLSmidth is a global supplier of services and equipment for the minerals and cement industries. Founded 130 years ago in Denmark, the company now focuses on engineering and design and outsources most of its production.

NIB is a 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
Ms Ann Værum, Senior Manager Origination, at +45 2325 5624,

Mr Dimitrijs Alehins, Senior Communications Specialist, at +358 10 618 0296,

FLSPhotos from the loan agreement signing
Photographer: Pamela Schönberg/NIB
Free for download, credit the photographer.