Scania

Scania

11 Dec 2015

NIB funds Scania’s largest ever development project

Scania fire engine with skylift. Photo: Gustav Lindh, Scania

NIB has provided a EUR 250 million loan with a tenor of seven years to Swedish heavy transport vehicle manufacturer Scania to partly finance the company’s extensive next-generation vehicle development programme.

Scania is a very research-intense company, directing about 5% of its sales revenue to research and development annually. The company’s R&D activities are concentrated in Sweden, where it has some 3,000 employees working in R&D in Scania Technical Centre. The current development programme is the largest in the company’s history and one of Sweden's largest ever industrial investments.

“The loan will support competitiveness of Sweden and Scania in global markets. Scania’s R&D also contributes to the development of transport and vehicle clusters as it cooperates with Swedish universities and local suppliers”, says Thomas Wrangdahl, NIB’s First Vice-President and Head of Lending.

Scania is one of the world’s leading manufacturers of trucks and buses for heavy transport applications, and of industrial and marine engines. It operates in about 100 countries, and has some 43,000 employees.

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

NIB
Mr Lars Synnes, Senior Manager Origination, at +358 10 618 0504,

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

SCANIA
Mr Hans-Åke Danielsson, Press Manager, at. +46 8 553 856 62