NIB Supports Nefab Group’s Expansion with EUR 50 Million Loan Agreement

NIB Supports Nefab Group’s Expansion with EUR 50 Million Loan Agreement

(IN BRIEF) The Nordic Investment Bank (NIB) has signed a EUR 50 million loan agreement with Nefab Group AB, a Swedish industrial packaging company, to facilitate its acquisitions of US PolyFlex Products Inc. and Swiss Cargopack group AG, as well as investments in digitalization from 2023 to 2027. These acquisitions and digital transformation initiatives aim to strengthen Nefab’s market position in the Americas, particularly in the lithium-ion battery (LiB) and E-mobility segments, and enhance its technical capabilities and business concepts. NIB’s loan underscores its commitment to advancing sustainability in the packaging industry, contributing to a greener future.

(PRESS RELEASE) HELSINKI, 16-Mar-2024 — /EuropaWire/ — The Nordic Investment Bank (NIB) has signed a 7-year EUR 50 million loan agreement with Swedish industrial packaging company Nefab Group AB to support its acquisitions of US PolyFlex Products Inc. and Swiss Cargopack group AG, as well as digitalisation investments from 2023 to 2027.

PolyFlex’s expertise in engineered solutions, prototyping, and manufacturing complements Nefab’s offerings in industrial packaging and logistics. The acquisition provides an opportunity for Nefab to further strengthen its market position in the Americas and in the important lithium-ion battery (LiB) and E-mobility segments.

The acquisition of the industrial packaging company Cargopack group AG in Switzerland will bring Nefab closer to its customers and provide new technical capabilities and business concepts.

In addition to the acquisitions, Nefab has initiated a digital transformation project to enhance efficiency, quality and opportunities, increasing automation across Nefab’s global sites.

“NIB’s loan to Nefab shows our dedication to advancing sustainability in the packaging industry.  Together, we are fostering a greener future,” says Patrick Nylund, Senior Banker at NIB.

With more than 75 years of experience, Nefab offers global solutions and local services worldwide to companies in industries such as telecom, data communication, semiconductors, energy, healthcare equipment, mining and construction, and LiB and E-mobility. Nefab Group has over 4,700 employees across 38 countries. Nefab is owned by the founding family Nordgren/Pihl (50%) and the Wallenberg foundations’ investment holding company FAM AB (50%).

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.

Media Contacts:

Patrick Nylund
Senior Banker
+358 10 618 0329
Patrick.Nylund@nib.int

David Rasmusson
Communications
+358 50 476 3071
David.Rasmusson@nib.int

SOURCE: Nordic Investment Bank