Inin Group AS: Subsidiary awarded railway contract

14 Dec 2022 11:27 CET

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.

(ENDS)
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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