FrieslandCampina has secured a loan worth EUR150m from the European Investment Bank, which the Dutch dairy giant said it would use to invest in research and development in the region.
The Milner cheese and Friso infant formula maker said “the lion’s share” of the cash would be put to use at its innovation centre in Wageningen in the Netherlands. FrieslandCampina said it would focus on areas including nutrition, packaging and process technology.
CFO Hein Schumacher added: “The EIB loan gives us the opportunity to finance our European research, development and innovation activities at favourable conditions. These activities are mainly carried out in our innovation centre in Wageningen where more than 300 R&D employees in various disciplines from all over the world are working together to unlock the nutritional potential of milk.”
Pim van Ballekom, vice president of the EIB, added: “Milk and its derivatives are central to most people’s diets and the importance of the research and development surrounding the products they consume should not be underestimated. Although we have already supported agriculture through SME credit facilities in the past, we see this operation as a clear example of what the EIB can do for the sector.”