16 Jul 2014

NIB finances Konecranes R&D programme

Photo: Konecranes.

NIB and Konecranes have signed a EUR 50 million loan agreement to finance the company’s R&D activities in 2014–2017.

The seven-year-maturity loan to Konecranes’ R&D programme will assist the company in focusing on new business opportunities in two important areas: industrial internet and next generation mid-market products.

Konecranes’ industrial internet initiative enables machines to recognise their condition, and networks them to create real-time visibility for enhanced safety and productivity. The remote services offering includes a variety of distinct services ranging from periodic data reporting to real-time diagnostics, technical support and production monitoring. Utilisation of ICT to gather information about the performance and condition of machinery is a relatively new area in material handling. Konecranes is responding to this knowledge gap through its investment in R&D dedicated to technologies, which is likely to strengthen its market position in the company’s service business. More features and functionalities will be added to the offering in the future.

Another part of the Konecranes’ R&D programme focuses on lifting equipment offering. Emerging markets’ needs differ from developed economies, but the need of safety and cost efficient productivity is common for both. With Konecranes’ new innovative solutions, it is possible to create modular products that serve both markets.

By investing in its research and development activities, Konecranes will contribute to NIB member countries’ overall productivity growth. The likely outcome of R&D investments—increased knowledge and innovations—can be transferred to other companies in the region and sector.

Konecranes is a world-leading group of lifting businesses, serving a broad range of customers, including manufacturing and process industries, shipyards, ports and terminals. The company employs 11,800 people at 600 locations in 48 countries.

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 Kim Krokfors, Senior Manager Origination, at +358 10 618 0517,

Ms Niina Rantti, Communications Specialist, at +358 10 618 0265,