For many years, Rico System has been a leader in the design of work vans with a focus on the environment (CO₂), work environment, safety, efficiency, reduced weight, etc. Virtually all companies now have a strong focus on ESG and in particular theirCO₂ footprint and environmental profile. The increasing number of electric vans has increased the value of Rico's core qualities. This, together with the changing geopolitical situation with the war in Ukraine and the new political line in the US, has significantly increased the demand for our solutions.
As elements of our growth strategy, we have made a number of strategic choices.
We now only use certified plywood from Finland, as this represents the best quality, lowestcarbon footprint, shortest transportation route and we have thus opted out of e.g. Eastern European wood.
Our collaboration with our former production partner Tekteam/Enter has just ended and we would like to take this opportunity to thank them for their cooperation. Going forward, we have chosen Finnish Koskisen/KORE as our strategic partner. KORE has built a brand new 6000m2 state of the art factorydedicated to Rico System with access to another 6000m2. This partnership has created high production capacity capacity, very short lead times and fantastic product quality. The factory is located in the heart of Europe with optimal access to even more European markets.
On the sales side, in addition to the head office/sales office in Haugesund, we have now established a sales office in Oslo and a new subsidiary in Vejle, Denmark, which is off to a fantastic start.
The outlook for 2025 is very positive, as many of the large fleet owners now value Rico's core qualities such as environment, work environment, weight, safety, etc.
We look forward to a continued excellent collaboration with customers, partners and our talented employees.
