Coor Extends IFM Agreement With Telia Company in Norway and Sweden

STOCKHOLM, June 24, 2020 /PRNewswire/ -- Coor has worked with Telia Company in the Nordics for over ten years, and is now extending the contract in a Vested Outsourcing Agreement over five years with an annual value of just over SEK 100 M.

The Vested Outsourcing Agreement encompasses a large number of workplace services including cleaning, reception and conference services. The assignment relates to delivery to some 50 facilities in Sweden and Norway.

The aim of the agreement is to develop Coor's FM delivery in line with Telia Company's key business goals, such as generating cost savings and increasing user satisfaction, with a special focus on sustainability and innovation.

"Telia Company is a highly ambitious customer, which places demands on us as a supplier. I see the new Vested Outsourcing Agreement with Telia Company as further evidence of Coor's market leadership in the Nordics, and look forward to deepening the collaboration further," commented Mikael Stöhr, President and CEO at Coor.

Vested Outsourcing is a type of agreement where the customer and supplier develop a contract together over an extended period of time. The collaboration and business model are based on both parties working together to achieve set goals, that are measured using external key performance indicators.

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, property services 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 ABB, Aibel, Det Norske Veritas, E.ON, Ericsson, Equinor, ICA, NCC, Politiet (Danish Police), Saab, Sandvik, SAS, Telia Company, Swedish Transport Administration, Vasakronan, Volvo Cars and Volvo Group.

Coor was founded in 1998 and is listed on Nasdaq Stockholm since 2015. 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

For more information, please visit www.coor.se or contact:
Mikael Stöhr
President and CEO, Coor
+46-10-559-59-35
mikael.stohr@coor.com

Klas Elmberg
CFO and IR-director
+46-10-559-65-80
klas.elmberg@coor.com

Magdalena Öhrn
Communications Director, Coor
+46-10-559-55-19
magdalena.ohrn@coor.com

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SOURCE Coor