Inin Group AS: Subsidiary awarded substantial contract

07 Feb 2023 10:33 CET

7 February 2023 – A subsidiary of Inin Group has been awarded a contract by
Siemens Mobility to provide training services to railway personnel in Norway.

Inin Group’s subsidiary Kordinate AS has, under a current framework agreement
with Siemens Mobility, been awarded a one-year contract with options to extend
on year-to-year basis, which can extend the cooperation until the end of 2034 if
Siemens use the option. Kordinate estimates that the contract will generate
annual revenues of approximately NOK 9-10 million.

Under the contract, Kordinate’s signalling system specialists will train
Norwegian railway personnel in the use and understanding of the new, digital
European rail traffic management system (ERTMS).

Kordinate will utilise signalling experts from its sister companies in Inin
Group-owned Nordic Infrastructure Group to deliver the training services. This
includes Konvei AS, which provides competence and consultancy services within
the railway and construction industry, and Rail Production AS.

“This is a fantastic contract. It can secure steady work over several years. We
have a huge amount of signalling system competence in our group and look forward
to sharing this with the wider Norwegian railway community,” says Gjermund Sogn,
CEO of Nordic Infrastructure Group.

The ERTMS is the system of standards for management and interoperation of
signaling for railways by the European Union. It works as a safe monitoring
system, continuously supervising the speed of each train according to track and
train data.

Nordic Infrastructure Group, which is wholly owned by Inin Group, has a rapidly
growing presence in the Norwegian and Swedish infrastructure markets. Through
its subsidiaries, the group delivers entrepreneurial services as well as tools
and equipment to the railway and tramway industries; training, management and
consulting services for the road, rail, construction, and civil engineering
sectors; and accommodation services to the construction industry.

(ENDS)

For further information, please contact:
Gjermund Sogn , CEO of Nordic Infrastructure Group , Tel: +47 902 60 053

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. For more information, please visit: www.inin.no

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