Scandi Byg gets a new CEO
Scandi Byg Appoints a New CEO Amidst Restructuring Efforts.
Many negotiations and scenarios have unfolded since Scandi Byg filed for bankruptcy in early January. However, the future now looks brighter for the modular construction company in Løgstør, which not only has a solid plan for continuing operations but has also appointed a new leader. The role will be taken on by Scandi Byg’s former Development Manager, Mads Seneca Simonsen, who, with 14 years of experience in the company, has an in-depth understanding of both the business and the industry.
At the end of January, Nordic Wood Industries, the owner of the bankrupt modular construction company Scandi Byg, announced a plan for the company’s continuation. This plan ensures the completion of several ongoing projects and the rehiring of a portion of the workforce.
As the next crucial step, an agreement has now been reached on who will take the helm as the new CEO. The position will be filled by Scandi Byg’s former Development Manager, Mads Seneca Simonsen, who has been with the company for nearly 14 years and, therefore, possesses extensive knowledge of both the business and the industry.
A More Sustainable Future for Scandi Byg
“It has been a turbulent few weeks for Scandi Byg, so I am very pleased that we can now start looking ahead and, in close collaboration with Nordic Wood Industries, create a new and more sustainable version of the company. Our first task will be to complete some of the ongoing construction projects in a proper and orderly manner. We strive to finish these projects under the same conditions as initially agreed, though with delays due to the bankruptcy,” says Mads Seneca Simonsen, the newly appointed CEO of Scandi Byg, who continues:
“Furthermore, our most important task will naturally be to carry forward the healthy parts of the business to establish a new and improved Scandi Byg with a profitable, long-term, and robust business model. Fortunately, we have a very strong product with high demand, so the main challenge will be finding the most efficient and sustainable way to operate the business moving forward.”
Focus on Core Competencies
According to Mads Seneca Simonsen, the company will focus on its core competence—modular construction. As a result, turnkey contracts will play a significantly smaller role in Scandi Byg’s operations.
“One of the things that Scandi Byg has always been exceptionally skilled at is designing and producing high-quality, flexible, and aesthetically pleasing modular buildings. This is a core competency that we continue to believe in strongly, and it will remain our primary focus going forward. To achieve this, we have assembled a strong team with high expertise and extensive experience in modular construction, providing us with a solid foundation for the future,” explains Mads Seneca Simonsen.
Scandi Byg will now consist of approximately 85 employees who have been rehired in offices, production, and construction sites. The company’s modular units will continue to be produced at Tolstrupvej in Løgstør.