FLSmidth recently announced it has signed a loan agreement totaling €130 million (~ $167 million) with the Nordic Investment Bank for investments in research and development activities.
The seven-year-maturity loan will reportedly finance FLSmidth’s 2013-2015 global research and development program. The program is intended to focus on the development of new products, enhanced energy efficiency, the use of materials and fuels in the production process, and the reduction of harmful emissions. The program’s total budget is €260 million (~ $335 million).
“This loan from the Nordic Investment Bank supports our strong focus on research and development,” said Ben Guren, group executive vice president and CFO. “Continuous research and development is key to FLSmidth’s future development, and our R&D activities take place globally in our various centers of excellence.”
For additional information, visit www.flsmidth.com.