19.11.2020 12:10:55 CET | StrongPoint | Inside information
(Rælingen, Norway, November 19, 2020) StrongPoint ASA (StrongPoint, OSE: STRONG)
received in 2019 an offer of 55.6 MNOK as a compensation for the disturbance and
costs of relocating its labels production facility in Tangen, Norway. The
settlement and time of payment have today been approved by both BaneNor and
This refers to the Oslo Stock Exchange announcement of June 25 2019 regarding
BaneNor's planned railway construction between Kleverud to Sørli in Norway and
the resulting relocation of StrongPoint's labels production facility. According
to the agreement StrongPoint must complete the move by January 1 2023.
The compensation is expected to have a positive EBIT effect of approximately 30
MNOK for the Q4 financial results after the provisions allowed under IFRS
standards for foreseen events have been calculated. The compensation will be
paid in December 2020 and will have a positive effect on the cash flow.
"We are very pleased that the details around the relocation have been concluded
and are satisfied with the financial compensation agreed. We expect to have
completed the move of the facility well within the deadline and with a minimum
of disruption to our operations," says Jacob Tveraabak, CEO of StrongPoint.
This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act.
* Hilde Horn Gilen, CFO StrongPoint ASA, +47 920 60 158,
StrongPoint is driving productivity for European retailers by providing
innovative, integrated technology solutions for multi-channel retailing based on
long-standing relationships with customers and partners. StrongPoint is also a
leader in IBNS solutions for Cash-In-Transit (Cash Security), and Labels for
customers in Norway and Sweden. StrongPoint offers best-in-class service and
consultancy expertise through its team of 521 employees in Norway, Sweden, the
Baltics, France, Belgium, Spain and Russia. StrongPoint is headquartered in
Rælingen, Norway, and listed on the Oslo Stock Exchange (ticker: STRONG).
* Download announcement as PDF.pdf
This information was distributed by Oslo Børs https://www.oslobors.no/