OneCo AS establishes itself in Sweden and acquires Enteka AB

OneCo AS is establishing itself in Sweden with the ambition of becoming a long-term and solid supplier to the Swedish electric power market. This is done through the acquisition of Enteka AB (www.enteka.se), whose employees have extensive experience in the Swedish electricity market.

Today, OneCo is well established in Norway with 800 employees, sales of NOK 1.5 billion and operations in the following main areas:

• Electrical power
• Telecom
• Infrastructures
• Metering systems (electricity, water)
• Automation, system integrator
• Welfare technology

The majority of OneCo's operations in the Norwegian market are currently in critical social infrastructure such as electrical power and the telecoms network. The ambition is for OneCo Sverige AB to take a similar position in the Swedish market, as well as to add experience, expertise and capacity to the Norwegian market in order to be able to expand activities in Norway on transmission systems up to 420 kV.

"Through our establishment and entry into the Norwegian market, we have shown that we have met a clear need for an innovative supplier like OneCo. I am convinced that we can take the same position in Sweden. Our values of Long-termism, Passion and Fairness have been a strong foundation for building OneCo in Norway. It is in the same way that we will now meet our Swedish customers, suppliers, partners and employees," says Marvin Jensen, CEO of OneCo.

At the time of its establishment, OneCo Sverige AB had an order backlog of SEK 60 million, which mainly comes from the contractor and service market within electrical power. This will also be the core business and main focus in the establishment phase for OneCo Sweden.

In connection with this, Enteka changes its name to OneCo Kraftteknikk AB.

For further information contact:

Marvin Jensen                                                                                           Dag Andreasson

President and CEO | CEO Incoming CEO OneCo Sverige AB

OneCo AS Enteka AB

Phone: +47-974 87 362 Phone:+46 708 633 579

marvin.jensen@old.oneco.no dag.andreasson@enteka.se

Enteka AB Enteka is an installation, technical and service contractor with specialist expertise in electricity transmission 52-420 kV. Enteka has certified personnel for switch testing, cable cutting and cable termination up to 550 kV. The head office is in Rosersberg, Stockholm. More information can be found at www.enteka.se