Scandinavian Astor Group AB: Astor Group's associated company Nordic Shield Group signs framework agreement worth approximately SEK 40 million
Scandinavian Astor Group's ("Astor Group" or the "Company") associated company in the field of security-classified structures, Nordic Shield Group AB ("NSG"), has, through its wholly owned subsidiary Cesium AB ("Cesium"), signed a framework agreement with an initial term of two years and an option for a further two-year extension. The framework agreement covers security structures for a Western authority with a maximum order value of approximately SEK 40 million during the initial contract period. If the option for extension is exercised, an additional SEK 40 million may be called off.
Cesium, a wholly owned subsidiary of Nordic Shield Group, an associated company within the Astor Protect business area, has signed a two-year framework agreement with an option for a two-year extension regarding security structures. The customer is a Western government agency. The framework agreement regulates the terms and conditions for future call-offs, which will be placed on an ongoing basis based on customer needs and project development. The agreement forms an important basis for long-term and in-depth cooperation between the parties and creates conditions for stable planning and efficient delivery capacity. The agreement covers a maximum order volume of approximately SEK 40 million during the initial agreement period. If the option in the agreement is exercised, an additional SEK 40 million can potentially be called off under the framework agreement.
"The framework agreement confirms Nordic Shield Group's strong development and growing importance within Astor Protect, where NSG contributes specialist expertise and technical solutions that complement and strengthen our overall offering. The potential order volume creates good conditions for continued growth and is fully in line with the Group's ambition to develop partnerships and investments in areas with high demand and long-term relevance", says Mattias Hjorth, CEO of Astor Group.
Due to the nature of the industry and circumstances concerning customers and national security interests, no further information about this order or customer will be disclosed.
About Nordic Shield Group
Nordic Shield Group, including the operations of Cesium, NEZ, and NSG's proprietary solutions, offers specially high-level protective and secure structures, such as shelters, data centers, and containers. The systems are developed to meet modern threats such as intrusion, sabotage, and electromagnetic pulse (EMP), with a focus on mobility and rapid deployment. NSG is an associated company of Scandinavian Astor Group, which owns 36,5 per cent of the business.
Scandinavian Astor Group - Strength and security in all elements
For further information, please contact:
Scandinavian Astor Group CEO Mattias Hjorth
Phone: +46 83 00 800
E-mail: ir@astorgroup.se
Please note that this is an English translation of a press release written in Swedish by Scandinavian Astor Group AB (publ), in the event of any inaccuracies, the Swedish version applies.
About Scandinavian Astor Group AB (publ)
Scandinavian Astor Group is a Swedish defense group shaping the future of security and protection. Through its three business areas - Astor Tech, Astor Industry and Astor Protect - the Group delivers advanced technology, high-quality components and critical security solutions to primarily the defense, industry and public safety sectors. Astor Group is listed on NGM Main Market (ticker: ASTOR) and Boerse Stuttgart. The Company is headquartered in Stockholm, Sweden. For more information about Astor Group's business, visit: www.astorgroup.se