Billion-dollar loan to Scania owner Traton

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Billion-dollar loan to Scania owner Traton
Photo: Jonas Ekströmer/TT

Traton, which owns truck manufacturer Scania, has received a billion-kronor loan from the European Investment Bank (EIB), writes Dagens Industri.

The loan agreement is for 500 million euros, equivalent to 5.5 billion SEK, and runs for five years.

This is the first time that Traton has received a loan from the EIB.

The money will help develop the next generation of trucks.

"The loan agreement is an important milestone in Traton's financial strategy and means that we have broadened our financing solutions," writes Matthias Karpstein, spokesperson for Traton, in a comment to the newspaper.

With the money, Traton will increase the pace of introducing a common modular platform. It will be introduced throughout the group for future generations of trucks.

In Sweden, money will be invested in research and development in Södertälje. Investments are also being made in Oskarshamn.

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By TTEnglish edition by Sweden Herald, adapted for our readers

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