Asia is a large market and Railcare is now ready to take the step into a new market consisting of many railways, including subway and mining tracks. With our modern, sustainable, and efficient machines together with our home markets as our foundation, this strategic investment is the next step in Railcare's company development.
Currently, Railcare has many projects out on tender where our innovative machines are suitable for the customer's demand. The establishment will take place in Hong Kong and we expect to begin preparations during the second half of 2021.
"It feels like the right time to make this investment now, primarily because there are many projects that suit us and our machines, along with the company being in a good position to take this step. The pandemic restrictions are also starting to ease as more and more people are vaccinated," says Daniel Öholm, CEO at Railcare Group AB.
This information is such that Railcare Group AB (publ) is required to disclose under the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below, for publication on 3 June 2021 at 08:00 am CEST.
About Railcare Group
Rail specialist Railcare Group AB offers products and services that strengthen customer reliability, punctuality and profitability, mainly in the Nordic countries and the United Kingdom. The rail industry is growing and developing well, with increasing traffic volumes and extensive investment programs, along with a rapid development of cost-effective freight and passenger transport and increasing environmental awareness. Railcare has unique opportunities to deliver efficient solutions that contribute to the railways increasing their share of the total transport market. Railcare Group AB (publ)’s share is listed on the Nasdaq Stockholm Small Cap since April 2018. The Group has approximately 140 employees and annual sales amounting to approximately 400 MSEK. The Company’s registered office is domiciled in Skellefteå, Sweden.