Coor consolidates positioning in the Norwegian oil and gas industry

Regulatory News:

Coor has signed new and extended Integrated Facility Management contracts with two oil service companies in Norway. The total estimated yearly value of these agreements is some NOK 40 m.

Coor has extended and signed new Integrated Facility Management (IFM) contracts with two Norwegian companies delivering services to the oil and gas industry. The agreements include a range of FM services to be delivered to three larger offices just outside Oslo.

The new and extended contracts have a three to four years term, and a total estimated yearly value of some NOK 40 m. The deliveries start in the second-half-year 2016.

"We’re extremely proud of these new assignments. Now, our mission is to keep developing cost-efficient and innovative service solutions with high quality in close partnership with our clients,” commented Nikolai Utheim, President of Coor in Norway.

Some of the services included are property services (hard FM), office services, cleaning, security and reception.

"The big advantage of IFM solutions is that they’re flexible and generate better quality at a lower price. So generally, they’re especially attractive for companies and sectors with high change pressure, such as the Norwegian oil and gas industry. For Coor, the market leader in IFM solutions in the Nordics, this means good growth potential in Norway. These new contracts mean we consolidate our positioning further in the sector,” added Mikael Stöhr, President and CEO of Coor.

Coor is a leading provider of facility management services in the Nordics, focusing on integrated and complex service undertakings (IFM). Coor offers specialist expertise in workplace services (soft FM), property services (hard FM) and strategic advisory services for development of customers’ service activities. Coor creates value by executing, leading, developing and streamlining its customers’ service activities, ensuring that they provide optimal support to the core business over time. Coor’s customer base includes many large and small companies and public-sector organisations across the Nordic region, including AB Volvo, Aibel, Det Norske Veritas, E.ON, Ericsson, EY, NCC, Politiet (Danish Police), Saab, Sandvik, SAS, Skanska, Statoil, Telia, Swedish Transport Administration, Vasakronan and Volvo Cars.

Coor was founded in 1998 and is listed on Nasdaq Stockholm since 2015. At 31 March 2016, the company had 6,100 employees (FTE) based mainly in Sweden, Denmark, Norway and Finland, and annual sales of SEK 7,500 million (rolling twelve-month basis). Coor takes responsibility for the operations it conducts, in relation to its customers, employees and shareholders, as well as for its wider impact on society and the environment. Read more at www.coor.com

This information is information that Coor Service Management Holding AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at September, 30, 2016, at 08:30 CET.

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