KfW IPEX-Bank: Norwegian dairy - financing R&D programme and more environmentally friendly distribution

Frankfurt am Main (ots) -

- Financing the conversion of TINE SA's fleet to environmentally
friendly vehicles
- New Mercedes and Scania trucks for lower emissions
- Loan also supports R&D activities

KfW IPEX-Bank is providing TINE SA, a Norwegian dairy cooperative,
with a loan of EUR 50 million, or its equivalent in Norwegian kroner.
The funds will be used in part to gradually convert the company's
vehicle fleet to environmentally friendly trucks manufactured by
Mercedes and Scania. The market leader in Norway will also utilise
the loan to finance its annual R&D programme. The objective of this
programme is to develop new products and optimise production
processes, thus making the cooperative fit for the future.

"Financing German and European exports is part of our core
business, as is the funding of environmental measures," explained
Markus Scheer, member of the Management Board of KfW IPEX-Bank, upon
the signing of the financing agreement. "We are pleased to have
gained in TINE SA a new customer that is both well-known and highly
reputable."

TINE SA's fleet of trucks currently comply with the Euro 3 and
Euro 4 standards. The new models from Germany (Mercedes) and Sweden
(Scania) will mean that, over the coming years, the entire fleet will
meet the requirements of the latest Euro 6 standard. The main savings
will be achieved through a significant reduction of the total amount
of nitrogen oxides and particulate matter emitted from motor vehicles
in specified areas, as well as in CO2 emissions.

About TINE SA

The TINE Group is one of Norway's largest food companies and is a
full-scale supplier of dairy products with known brands. It is owned
by 12,000 dairy farmers and organized as a cooperative. TINE SA has a
no. 1. position within the Norwegian dairy market stemming from a
long-standing history and strong ties with the Norwegian authorities.
The company's core operations involve the processing, distribution
and marketing of milk and other dairy products on a national level.
The company also operates internationally with sites in Denmark,
Ireland, Sweden, the US and the UK. TINE has three roles to
safeguard: as a commercial brand supplier, as a member organization
for the owners, and as a market regulator on behalf of the
authorities.

About KfW IPEX-Bank

Within the KfW Group, KfW IPEX-Bank is responsible for
international project and export finance. Its function of providing
financing to boost the German and European economy is derived from
the legal mandate assigned to KfW. It offers medium and long-term
financing to support key export industries, to develop economic and
social infrastructure and to fund environmental and climate
protection projects. KfW IPEX-Bank operates as a legally independent
group subsidiary and plays a major role in fulfilling KfW's
promotional mission. It is represented in the most important economic
and financial centres across the globe

Pressekontakt:
KfW IPEX-Bank GmbH, Palmengartenstraße 5-9, 60325 Frankfurt
Pressestelle: Dela Strumpf, E-Mail: dela.strumpf@kfw.de
Tel. 069 7431 2984, Fax: 069 7431-9409, E-Mail:
info@kfw-ipex-bank.de, Internet: www.kfw-ipex-bank.de