Duroc has entered into a strategic partnership with
The new facility, which will be owned by LKAB and used by Rail, is expected to be completed in the end of 2025. The investment allows an increased flexibility and productivity and will have the dimensions necessary to support Rails expected future growth that the industrial developments in the Northern part of Sweden will entail.
Since the purchase of Rail in the late 90's, Duroc has formed the company into the strong position it has today and has continuously invested and developed the business to the current standard. Rail has been, and will continue to be, a vital part of the rail traffic in the Northern part of
" I am very satisfied with the agreement with
The sale of 49 percent of the shares in Rail will significantly strengthen Durocs already strong financial position, which further opens up for future investments. Through the acquisition, the group is proforma near debt free with an equity of approximately MSEK 1 150, and an equity to asset ratio of 60 percent.
The transaction is formally subject to the completion of the property transfer for the new industrial property, which is expected to take place before the end of the year. Duroc will maintain its majority ownership in Rail, which will continue to be included in the group's consolidated accounts. Rail had a turnover of approximately MSEK 150 in the financial year of 2022/2023 and employs approximately 50 people.
This disclosure contains information that DUROC is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on the 7th of
John Häger
Chief Executive Officer
+46-702 48 72 99
john.hager@durocgroup.com
https://news.cision.com/duroc/r/duroc-rail-in-a-strategic-partnership-with-lkab,c3870326
https://mb.cision.com/Main/998/3870326/2410767.pdf
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