5 Dec 2019
EUR 20 million
Financial institutions and SMEs
NIB and Danish Arla Foods have entered a seven-year loan agreement, totalling EUR 100 million, to finance the dairy manufacturer Arla Foods’ research and development programme in 2013–2016.
Arla Foods’ R&D is focused on developing new products, including cheeses, yoghurts, infant nutrition powder and butter products, as well as packaging, food safety and shelf life. The 2013–2016 investment programme also includes establishing an innovation centre near Aarhus in Denmark.
“The loan to Arla Foods is earmarked for investment in research and development that is expected to increase the company’s productivity and improve its competitiveness. Arla Foods’ success will have a substantial spill-over effect on the entire Danish food cluster,” says Henrik Normann, President & CEO of NIB.
Arla Foods’ more than 250-strong R&D personnel are mostly based in Denmark and Sweden. Arla Foods is the world’s seventh largest manufacturer of dairy products and the fourth largest dairy cooperative. Arla was founded in 2000 through the merger of the Swedish and Danish cooperatives Arla and MD Foods. The cooperative is owned by more than 12,000 dairy farmers in Sweden, Denmark, Germany, the UK, Belgium and Luxembourg.
NIB is an 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
Mr Vagn Lundhøj, Senior Manager Origination, at +358 10 618 0370,
Mr Dimitrijs Alehins, Senior Communications Specialist, at +358 10 618 0296,