KfW IPEX-Bank finances dairy plant in Ireland for Norway's TINE SA
KfW IPEX-Bank
KfW IPEX-Bank is putting EUR 50 million in financing towards the total investment volume of some EUR 77 million. The state-of-the-art dairy plant, designed for environmentally friendly production, will be equipped mostly with processing equipment sourced in Europe. Once completed it will produce up to 20,000 tonnes of Jarlsberg cheese annually for the international markets in the EU, USA, Canada and Australia. The financing from KfW IPEX-Bank will support several European exporters.
Markus Scheer, member of the Management Board of KfW IPEX-Bank, commented: "By supporting our esteemed business partner of many years TINE SA with its forward-looking international investment, we are contributing to enhancing the competitiveness of European companies in the global markets."
TINE SA is Norway's biggest dairy cooperative and one of country's major food producers.
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