Balco signs order for conversion of balconies outside Stockholm
Balco has signed a cooperation agreement regarding the production and delivery of balconies to a tenant-owners association in Täby outside Stockholm. The order, which is for a turnkey project, involves new glazed balconies in accordance with the Balco method and is worth approximately SEK 100 million. Start of the project, which is not yet included in the Company’s order backlog, will take place once the customer has been granted planning permission.
Balco has entered into a cooperation agreement with a HSB tenant-owners association in Täby outside Stockholm regarding production and installation of new balconies. The order involves the conversion and renovation of existing balconies and is worth approximately SEK 100 million. The delivery includes dismantling, project planning, delivery of new fastening systems, balcony floors, roofs and the Balco Air glazing system with Clean-line, Ventech and the Twin windows system. The order value is not included in the order backlog which Balco is reporting in today’s report for the first quarter of 2018. The production phase will commence once planning permission is granted, and thus it is anticipated that the project will contribute to sales in 2019 and 2020. It is estimated that the project will take one year to complete from start of the project.
“The order from the tenant-owners association in Täby is testimony to the fact that we have quality products, great industry know-how and good delivery capacity which facilitates establishment with short lead times. We are continuing to create our own market and we perceive positive opportunities to continue our organic growth. That is the case both in the Nordic region, where we are the market leader, and also in the rest of northern Europe”, says Kenneth Lundahl, President and CEO of Balco, in a comment.
For more information, please contact:
Kenneth Lundahl, President and CEO, 070-630 20 57, firstname.lastname@example.org
Cecilia Lannebo, Head of IR, 072-220 82 77, email@example.com
Balco is a growth company offering high quality, innovative, patented and energy-saving balcony solutions. The company’s customised products contribute to enhanced quality of life, security and an increase in value for residents of multi-family residential properties. Through a decentralized and efficient sales process, Balco has control over the entire value chain – from production to delivery. The company, which was founded in Växjö in 1987 and which has over 300 employees, is a market leader in the Nordic region, and operates on several markets in northern Europe. Sales in 2017 amounted to SEK 989 M. Balco’s shares are listed on the Nasdaq Stockholm Stock Exchange.