Update on Opus’ Notice of Contract Award from New Jersey
The State of New Jersey, Department of Treasury, issued a Letter upholding a protest filed by a competitor and rescinding the Notice of Contract Award to Opus Inspection, Inc. (Opus) issued on August 23, 2017.
Opus is in the process of reviewing its legal options.
Opus is currently not the incumbent contractor for the vehicle inspection program in the State of New Jersey.
Gothenburg, January 5, 2018
Opus Group AB (publ)
This information is information that Opus Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:30 CET on January 5, 2018.
For additional information, please contact:
Lothar Geilen, CEO
Tel: +46 31 748 34 00
Director of Corporate Communications & Investor Relations
Phone: +46 765 25 84 93
Opus is a technology-driven growth company in the vehicle inspection and intelligent vehicle support markets. The company has a strong focus on customer service and innovative technology within emission and safety testing and intelligent vehicle support. Opus had approximately SEK 1.7 billion in revenues in 2016 with strong operating cash flow and good operating profitability. Opus’ plan is to reach USD 400 million in revenues and USD 100 million in EBITDA by 2021. The majority of the growth is estimated to come from the international expansion of the vehicle inspection business, with a primary focus on the Latin American and Asian markets, and the expansion of the intelligent vehicle support business. With approximately 2,000 employees, Opus is headquartered in Gothenburg, Sweden. Opus has 30 regional offices, 20 of which are in the United States and the others in Sweden, Argentina, Chile, Mexico, Peru, Pakistan, United Kingdom, Germany and Australia. Opus has production facilities in the U.S. in Hartford, Ann Arbor and Tucson. The Opus share is listed on Nasdaq Stockholm.