25 October 2022 – The extraordinary general meeting in Elop AS has today approved the name change from Elop AS to Inin Group AS to reflect the group’s new strategic direction.
“The new name reflects that we have moved away from being only a technology provider, to also being an industrial owner that invests into companies that deliver construction, maintenance, inspection and other specialist services in the infrastructure value chain,” says Øivind Horpestad, CEO of Inin Group.
“Inin” is not an abbreviation and can have multiple meanings, including investments into infrastructure and inspection businesses, industrial investments, inspection and infrastructure, as well as investing in the individuals that are employed by Inin Group companies.
“We have a broad mandate in terms of size of companies we can acquire and potential future structural moves we can make, but it will happen in the infrastructure space. Our ambition of delivering cash positive operations in 2023 remains firm,” adds Horpestad.
The name-change will be effective once it has been formally registered in the Brønnøysund Register Centre. Inin Group consists of three business areas:
1. INFRA: Construction, maintenance, and specialist services: In Norway, Sweden, and Finland through Nordic Infrastructure Group AS and Hadeland Elektro AS.
2. INSPECTION: Through recently established entity Nordic Inspekt Group AB that will conduct testing, inspection and certification of infrastructure and other industrial assets.
3. ELOP TECHNOLOGY: Inspection hardware and software, including Elop Insight and Elop Insight Crawler, and other ultrasound-based scanner solutions from Elop.