Midway Holding changes name to HAKI Safety
HAKI Safety AB is the new name of Midway Holding. The extraordinary general meeting decided the name change on 12 December 2023 and the new company name is now registered at the Swedish Companies Registration Office. The company's ticker (short name) on Nasdaq Stockholm is traded under the names HAKI A and HAKI B as of December 20, 2023.
The purpose of the name change is to clarify the company's strategy change, from a conglomerate to today's industrial group with a focus on safety products and solutions that create safe working conditions at temporary workplaces.
Based on the well-established Swedish brand HAKI, founded in 1956, the group's product portfolio and geographical presence have been broadened in recent years through acquisitions. The acquisitions have meant that the group's exposure to more sectors has increased, as has the range of security products and solutions. They have also enabled synergies in purchasing, production, logistics and sales.
The name change marks that we have carried out a clean-up and a clear change in strategy for the company. We are convinced that our new strategic orientation lays the foundation for a more profitable business. With HAKI's increasingly broad offering and geographic presence, the group becomes less sensitive to economic fluctuations, which is a prerequisite for being able to generate a stable return for shareholders, says Lennart Pihl, chairman of the board.
The group's goal is to continue developing HAKI's strong position in Europe. The range of security products and solutions for projects in sectors such as infrastructure, energy, industry and construction must be strengthened with organic growth initiatives and complementary acquisitions.
HAKI Safety faces an exciting journey. The market is fragmented and there are good opportunities for acquisitions. In addition, there are strong structural trends that speak for stable market growth, and safe workplaces are a central area of sustainability. Overall, we see significant growth potential within our priority sectors, says Sverker Lindberg, CEO of Midway Holding.
Shareholders, investors, analysts and the media are welcomed to a capital market day in Stockholm on March 14, 2024. During the day, HAKI Safety's strategy and the group's long-term financial goals will be presented.
HAKI Safety can be accessed via www.hakisafety.se and www.hakisafety.com