21. December 2022

Subsidiary awarded railway contract

14 December 2022 – Rail Production AS, a subsidiary of Inin Group-owned Nordic Infrastructure Group, has been awarded a contract by railway infrastructure maintenance player Spordrift AS.

Under the contract, Rail Production will provide signal installation and maintenance services for nine months, starting 1 January 2023, to Spordrift’s department in Hønefoss, Norway.

Rail Production AS estimates that the nine-month contract will generate revenue of approximately NOK 1.3 million.

“This contract award is a perfect fit for our signalling expertise. Moreover, it is a great example of why Inin Group changed its strategic direction this year, going from being solely a technology provider to also delivering construction, maintenance, inspection and other specialist services in the infrastructure value chain. Tendering activity in the railway segment remains high and we hope to see further contract wins going forward,” says Øivind Horpestad, CEO of Inin Group.

Euronext Growth-listed Inin Group owns 100 percent of the shares in Nordic Infrastructure Group, which in turn is the sole shareholder of Rail Production AS.

Spordrift AS is Norway’s largest player in the operation and maintenance of railway infrastructure, with approximately 1,300 employees. The company was established in July 2019, when Bane NOR spun off the operation and maintenance services on the Norwegian railways. The ownership of Spordrift AS was transferred from Bane NOR to the Norwegian Ministry of Transport on 1 January 2021.

For further information, please contact:

Øivind Horpestad, CEO of Inin Group, Tel: +47 910 00 626

About Inin Group AS

Inin Group is an industrial owner that invests into companies within infrastructure and industry services niches in the Nordics. The group aims to create value by identifying investment opportunities within profitable niches with potential for development, consolidation and growth, working in collaboration with portfolio companies to deliver sustainable growth and superior profitability.

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