Knowledge hub

AI is the path forward for industry

In an industry struggling with high prices on energy and raw materials, finding new pathways is important. For Frederik von Sterneck, CEO of Nordic Flanges Group AB (publ.) and a Corporate Accelerator participant, investing in new technology is key. 


Norion Bank’s Corporate Accelerator training program offers networking and new knowledge for medium-sized companies undergoing a growth journey. The purpose is to help businesses develop by highlighting their activities from various perspectives. The program consists of four training days with speakers from Norion Bank, as well as external specialists.  

“Corporate Accelerator has given us valuable insight into business development that we will use in our work going forward. The breadth of the training, together with Norion Bank’s expertise in the medium-sized enterprise segment, has made it possible to view our company from different perspectives. Although the program participants come from completely different industries, we all clearly share the same management challenges. So it’s been very rewarding to be able to discuss and exchange thoughts and experiences with the other participants, as life in management can be fairly lonely,” says Frederik von Sterneck, CEO of Nordic Flanges Group.   

Frederik von Sterneck began as a sales manager and has continued to work closely with sales during his 30 years as a CEO in the industry. His goal has been to understand what the market needs in order to provide that to customers. As CEO of Nordic Flanges Group, the Nordic region's leading supplier of steel flanges and machined steel parts, the challenge is in tackling high prices on energy and raw materials in an energy-heavy industry.  

“Our biggest challenge is rising energy prices, but we also have raw material prices where the scrap price is higher now than the new price was two years ago. We need to find new paths forward, and automation and digitalization will be crucial for the industry. To be competitive in a country like Sweden, we have to automate our production. Labor costs vary from country to country, but a machine costs the same. We also have a very exciting journey ahead regarding artificial intelligence. It’s important to be in the game, to understand where we’re going. Because if you don't keep up now, you won't stand a chance,” says Frederik von Sterneck.   

In recent years, Norion Bank has clarified its focus on financing solutions for small and medium-sized companies.   

“We work closely with our customers, to understand their business and industry. Corporate Accelerator gives us the opportunity to further strengthen our collaborations and to contribute to knowledge development,” says Erik Krondahl, General Manager, Corporate, Norion Bank.


About Nordic Flanges Group AB (publ.)  

Nordic Flanges Group is the leading Nordic manufacturer of machined steel parts and of standard and special flanges in all types of stainless steel. The company’s production is in Sweden and Finland and it exports to more than 30 countries.