Ferronordic has signed an agreement to purchase a 15,500 m² land plot to build a new service and sales hub for the Hannover region. The new site, expected to be ready in Third Quarter 2022, will provide Ferronordic with a modern and purpose-built facility in a strategic location in the important Hannover region. The total investment is expected to reach approx. EUR 6.0m (SEK* 61m) over two years. With a population of 1.2 million, the Hannover region is one of the main metropolitan areas and a key transportation centre within Ferronordics sales area in Germany. Given the strategic significance of the area, Ferronordic needs a larger and more modern facility in a better location than its current workshop. After evaluating the available options, Ferronordic has decided to build a new service and sales hub in Wunstorf, situated 22 km west of Hannover. Wunstorf is home to a number of logistics companies and is expected to become one of the main transportation hubs of the Hannover region. Ferronordic has signed an agreement to purchase a land plot of 15,000m2 for EUR 1.2m (SEK* 12m), where Ferronordic intends to construct a combined office and workshop building of approx. 2,300m2. The investment will be made during 2021 and 2022 and is expected to reach approx. EUR 6.0m (SEK* 60m).