RADA will support Beerenberg with engineering know-how as well as through the supply of highly qualified and specialized personnel. In addition to project leaders, RADA intends to provide Beerenberg with project engineers, administration and other personnel to support the general activities of Beerenberg.
RADA currently employs 80 engineers, who are currently fully employed in several infrastructure projects in Norway. It is expected that the frame agreement will allow RADA to expand its current workforce significantly. RADA’s business model is based on supplying highly qualified engineers to its customers, allowing them to complete their projects in a customer oriented an expedient fashion. RADA’s engineers have an excellent reputation with their customers, especially in the infrastructure sector.
Norway has extensive plans to updadte the infrastructure of the country. The overall approved budget until 2022 exceeds NOK 500 bn (€54bn). RADA is very well positioned to benefit from this workflow.
RADA achieved sales of NOK 87 m in 2014 (approx. €10m). Management expects that the frame agreement will allow RADA to significantly increase revenues over the next years.