Inin Group AS: Establishment of new rail maintenance company

28 Mar 2023 13:54 CEST

28 March 2023 – Inin Group-owned Nordic Infrastructure Group has reached
agreement with Lerøy Vedlikehold AS to jointly establish a new company within
maintenance and construction of railway and tramway infrastructure.

The new company is called Railproduction Bane AS. Nordic Infrastructure Group’s
wholly-owned subsidiary Rail Production AS will be majority owner with 70
percent ownership. Lerøy Vedlikehold AS will own the remaining 30 percent.

Railproduction Bane AS specializes in lighter groundwork and track work. The
company also offers specialist competence within track safety.

As part of the establishment agreement, ten employees will transfer from Lerøy
Vedlikehold AS to Railproduction Bane AS. The latter will also lease various
machines and equipment from Lerøy Vedlikehold AS.

Relevant customer contracts will also be transferred from Lerøy Vedlikehold AS
to Railproduction Bane AS. This includes a contract with Infranord where all the
above-mentioned machines, equipment and employees are hired-out to Infranord
projects until the autumn of 2023.

“The newly established Railproduction Bane AS fits perfectly with Rail
Production AS’ specialist signaling and electrical expertise. The two companies
complement each other, which means that they combined can undertake larger work
scopes and bigger projects within maintenance of railway and tramway
infrastructure. Furthermore, the new company have secured work with Infranord
until the autumn, so we consider this to be an investment with significant
growth potential at relatively low risk,” says Gjermund Sogn, managing director
of Nordic Infrastructure Group, which is the parent company of Rail Production
AS and Railproduction Bane AS.

Euronext Growth-listed Inin Group owns 100 percent of the shares in Nordic
Infrastructure Group.

(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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