Nobia will invest around SEK 2 billion ($241 million) of capex in automation and other production equipment to build one of the most modern kitchen manufacturing factories in Europe. The factory will have a high degree of automation and digitalisation as well as industry leading environmental and sustainability performance. It is planned to be fully operational in 2024. In addition to the capital expenditure in machinery, the Group will invest approximately SEK 1.5 billion ($180 million) in a factory building which is expected to be sold and leased back when the factory is in full operation.
Nobia has now also entered an agreement with Svenska Handelsbanken AB and Nordea Bank Abp, filial i Sverige for two multicurrency revolving credit facilities totaling SEK 5 billion ($602 million). A SEK 2 billion ($241 million) facility with a term of three years and a SEK 3 billion ($361 million) facility with a term of five years. The new credit facilities will replace, extend and increase the current facility Nobia has with the same two banks.
The Board of Directors’ resolved on the decision to build a new factory in Jönköping and to subsequently write down the assets related to machinery and building in the current Tidaholm factory in the amount of SEK 149 million ($17.9 million), of which SEK 129 million ($15.5 million) is non cash, which will be charged to operating income for the 4Q 2020.
Nobia develops and sells kitchen solutions through a number of strong brands in Europe.
