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Keitele Timber and Nordic Investment Bank sign loan agreement
Nordic Investment Bank (NIB) and Keitele Timber have signed a Euro 15 million loan agreement to finance the company investments in facilities for mechanical wood processing. The maturity of the loan is ten years.
NIB’s loan to Keitele Timber will finance the company’s investments in tangible capital; machines, flue gas scrubbers, dryers for sawdust and bark, as well as a pellet factory. Keitele Timber is a subsidiary of Keitele Group that runs three sawmills.
“We can expect that interest in this sustainable construction material will only increase in the future. The forest-based economy offers both employment and growth opportunities for our member region,” says Henrik Normann, NIB President & CEO.
Keitele Group produces lumber and wood products mainly for the construction industry.
Source: Lesprom Network