Inin Group AS: Significant contract expansion for subsidiary

04 Apr 2023 08:03 CEST

4 April 2023 – Reference is made to the stock exchange announcement dated 14
December 2022, when it was announced that Nordic Infrastructure Group’s
subsidiary Rail Production AS had entered a contract to deliver 50 percent of
the work scope of a contract worth NOK 42 million in total. The project’s
cooperation partners have agreed to transfer the full NOK 42 million work scope
to Rail Production AS. Furthermore, the original work scope has expanded from
NOK 42 to 53,5 million, which Rail Production AS now will deliver in its
entirety.

The work is related to installation of new signalling systems at Bergen and Arna
railway stations in Norway. The project customer is Ground Transportation
Systems Norway AS. The work will be conducted during 2023.

Rail Production AS is a wholly owned subsidiary of Nordic Infrastructure Group
AS, which in turn is a wholly owned subsidiary of Inin Group.

"Our top priority is the successful execution of this project, and we are
committed to delivering the highest quality results possible. We strongly
believe that our collaborative approach with the project customer is key to
achieving this goal, and we look forward to working closely with Ground
Transportation Systems Norway AS to ensure the safe and timely completion of the
project," says Gjermund Sogn, CEO of 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. For more information, please visit: www.inin.no

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