NIB finances production and logistics facilities for Snellman Group in Finland

• NIB has signed a 7-year EUR 30 million loan with Oy Snellman Ab, parent company for Snellman Group.
• The loan will finance new production facility and planned dispatch facility in Western Finland.
• The investment supports the increased capacity, automation and energy efficiency of Snellman Group’s operations.

The loan will be used to co-finance investments in a new pet food factory in Pedersöre and a planned new dispatch logistics centre at Snellman Group’s food production facility in Pietarsaari.

The new facilities will replace existing facilities that are approaching the end of their technical life. The investments are expected to expand production and logistics capacity, enhance operational efficiency through increased automation, and improve the energy efficiency of Snellman Group’s operations.

Markus Hellström, CEO, Snellman Group said: “With these two strategic investments we improve our capabilities for growth and efficiency. Our Petfood factory will open doors to new categories and export growth and the new dispatch centre will increase efficiency. Both projects are improving Snellmans environmental footprint. Nordic Investment Bank has been an important partner for us for a number of years and we are happy to see this fruitful co-operation to continue.”

André Küüsvek, NIB President and CEO said: “This financing supports a fast-growing Finnish mid-cap company that plays a key role in domestic food supply and regional employment. The investments are essential to maintaining efficient food production, and this loan supports the renewal of operations serving the domestic market.”

Snellman Group is a Finnish family-owned food house founded in 1951. The company produces a wide selection of different meat products, ready-to-eat meals and pet food, using domestically sourced meat in its Finnish operations.

NIB is the international financial institution of Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, and Sweden. The Bank finances projects that improve productivity and benefit the environment of the Nordic-Baltic region. The Bank is headquartered in Helsinki with a regional hub in Riga. NIB has the highest possible credit rating, AAA/Aaa, with S&P Global Ratings and Moody’s.

Contacts

Seppo Halttunen, Senior Banker, +358 10 618 0411, seppo.halttunen@nib.int

Oliver Mølvang Hermansen, Associate Communications Officer, +358 10 618 0225, oliver.hermansen@nib.int