Finnvera to participate in pre-delivery financing for Valmet Automotive
Finnvera contributes to the financial arrangements needed by Valmet Automotive relating to production of the new Mercedes-Benz A-Class vehicles in Finland.
In July 2012, Daimler AG of Germany and Valmet Automotive broke the news that they had agreed on the production of over 100,000 cars in Uusikaupunki between 2013 and 2016. For this purpose a new, highly automated production line with 200 new robots will be built at the Uusikaupunki plant. Valmet Automotive estimates that, at the projected production volumes, the direct and indirect impact on employment may be as much as 4,000–5,000 person-years.
Finnvera guarantees half of the working capital loan of 55 million euros associated with the arrangement. The loan is arranged by Skandinaviska Enskilda Banken AB Helsinki Branch.
Tuukka Andersén, Vice President and Head of Underwriting, tel. +358 29 460 2688