Coor Service Management Extends Collaboration with Vasakronan

Regulatory News:

Coor (STO:COOR) and Vasakronan have extended their collaboration relating to delivery of workplace services to Vasakronan, and the agreement on the operation of a number of major conference facilities and restaurants located in Vasakronan’s premises. The extended agreements run for three years, including an extension option, and the total estimated value of the collaboration is some SEK 100 m annually. Coor will also continue to deliver workplace services to Vasakronan’s tenants.

Vasakronan is Sweden’s largest property company with a holding valued at some SEK 98 bn. Vasakronan has decided to extend its contract with Coor relating to the delivery and development of a wide range of workplace services including reception services, freight services, office supplies and beverage machines. The collaboration also implies that Coor will continue to operate nine major conference facilities and four restaurants located in Vasakronan’s premises in Stockholm, Gothenburg, Malmö and Uppsala.

Together with Vasakronan, Coor has also developed a service concept to Vasakronan´s tenants. This means that Coor is permitted to deliver the services included in the concept to Vasakronan’s tenants. The collaboration also entails Coor delivering property-wide services to Vasakronan.

"We’re extremely proud to be extending our collaboration with Vasakronan, which we interpret as a confirmation that they are satisfied with our delivery. To us, each assignment is a great trust, and we will now continue to deliver innovative and high quality services both to Vasakronan and to the thousands of tenants and visitors in their properties every day. That our customers are satisfied is a prerequisite for high customer loyalty, which is crucial to us”, commented Mikael Stöhr, President and CEO of Coor Service Management.

The information is disclosed pursuant to the Swedish Financial Instruments Trading Act. The information was submitted for publication on September, 9, 2015 at 14:00 CET.

More information, press images etc. are available on www.coor.com.

Coor Service Management (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, DR (Danish Radio), E.ON, Ericsson, EY, ICA, NCC, Politiet (Danish Police), Saab, Sandvik, SAS, Skanska, Statoil, TeliaSonera, Swedish Transport Administration, Vasakronan and Volvo Cars.

Coor was founded in 1998 and is listed on Nasdaq Stockholm since 2015. At 30 June 2015 the company had 6,600 employees based mainly in Sweden, Denmark, Norway and Finland, and annual sales of SEK 7,300 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

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