Railcare comments on Malmbanan derailment

The derailment on Malmbanan is not expected to have a negative financial effect on Railcare.

A train carrying iron ore derailed on Malmbanan near Vassijaure on Sunday 17 December. The derailment was extensive and is expected to lead to lengthy stoppages on the route, tentatively at the turn of the year. Railcare carries out transports on Malmbanan on behalf of LKAB and Kaunis Iron. The train carrying iron ore was not operating under Railcare’s management.

The current stoppages on Malmbanan mean that the transports for Kaunis Iron, from Pitkäjärvi to Narvik, cannot run according to plan. The transports for LKAB, on the other hand, have not been affected by the derailment, as these transports run on routes that are not affected.

“Transports for Kaunis Iron are at a standstill, however, we assess that the derailment will not have a negative financial effect on Railcare”, commented Mattias Remahl, CEO of Railcare Group.

About Railcare Group
The railway specialist Railcare offers innovative products and services for the railway; for example, railway maintenance with self-developed machines, a locomotive workshop, special transport and machine sales projects. Our market is mainly in Scandinavia and the United Kingdom. The railway industry is in a positive development with increasing traffic volumes, extensive investment programs, developing cost-effective freight and passenger transport, and rising environmental awareness. Railcare delivers both sustainable and efficient solutions that contribute to the railway, so it can be used for the maximum number of years to come. The shares of Railcare Group AB (publ) are listed on the Small Cap list of the Nasdaq Stockholm exchange. The Group has approximately 170 employees and annual sales of approximately SEK 500 million. The company's headquarters are in Skellefteå.