DI: Nybergs Svets Lands Guyana Export Order Amid Swedish Downturn

Swedish steel subcontractor Nybergs Svets has secured a significant export order to Guyana, marking its first venture outside the Nordic region. The Alingsås-based company will supply 1,500 tons of steel structures for a new 230-bed general hospital in New Amsterdam. The facility will feature modern operating rooms, advanced X-ray solutions, laboratories, and a pharmacy. CEO Patrik Wallin views exporting as a "natural next step" for broadening the company's business operations amid a slowdown in the domestic construction market. The project originated through an inquiry from Elof Hansson International AB, now a part of Serneke International Group. Elof Hansson is assembling Swedish suppliers for the hospital project, facilitating financing through the Swedish Export Credit Agency (EKN) and the Swedish Export Credit Corporation (SEK). Nybergs Svets, established in 1914 and employing just under 50 people, has historically focused on supplying steel for Swedish construction projects, including schools and industrial buildings, with limited prior activity in Norway. Nybergs Svets was able to accept the order due to an advance payment from the developer and a guarantee from EKN, critical financial elements that facilitated the agreement. The hospital is located in Guyana, which the IMF has identified as the world's fastest-growing economy in recent years. Mr. Wallin expressed enthusiasm for the project and indicated that this experience positions the company to pursue similar international opportunities. This strategic move underscores a broader trend of Swedish construction firms seeking growth opportunities in foreign markets due to challenging domestic conditions.