NYAB INFRA is merged into the parent company.
The only immediate change is that no tenders will be submitted from NYAB INFRA as of November 2016.
The previously established brand strategy for the companies NYAB Sverige AB “NYAB” and NYAB INFRA AB “INFRA” has been that INFRA carries out T&M-intensive projects.
NYAB performs more engineering-oriented earthworks in addition to construction, fencing, demolition and house relocation.
In reality, both companies in good consensus and consultation during the start-up phase have carried out a large share of their volume in the other company's segment.
As both brands had incredible growth with good profitability and together reach a volume of approximately SEK 350 million in 2016, and with an order backlog indicating proper growth in 2017, we see that the current brand strategy does not hold. Customers, suppliers and employees are already experiencing an increasing degree of ambiguity regarding which company is to submit tenders and carry out their respective projects.
To optimize the Group's continued development and strategy, NYAB's and INFRA's CEO have agreed that INFRA's operations will be merged into the parent company NYAB, all employees in INFRA will also be offered continued employment in NYAB.
All ongoing projects in NYAB INFRA will be completed until even the approved final inspection. Following the approved annual report for 2016, all outstanding shares, in this case owned by INFRA's CEO Ronny Nylund, will be acquired by NYAB in accordance with the agreed valuation model between buyers and sellers. Ronny's employment as CEO and shareholder will remain until approximately March / April 2017. Ronny will then transfer to operations in his own company and has been offered to continue to perform assignments on a consulting basis for NYAB.
-Ronny Nylund, CEO of NYAB INFRA AB
-Johan Larsson, CEO of NYAB Sverige AB