Coor Signs New Contract with Aker Solutions in Norway

Regulatory News:

Coor Service Management (STO:COOR) signs a new contract with Aker Solutions to deliver integrated facility management (IFM) services to several sites in Norway. Estimated yearly contract value is SEK 105 m.

Aker Solutions is a global provider of products, systems and services to the oil and gas industry. The deal between Coor and Aker Solutions is an IFM contract, which involves subcontracting of FM services to Coor. Services covered by this contract include cleaning, property services, office services, personnel restaurants, security and reception services to several offices and production facilities in Norway. Coor will also operate housing services for Aker Solutions. Since July 1 2015, Coor delivers IFM services at the Aker Solutions office in Fornebu.

The estimated contract value of the new contract is SEK 105 m. The contract runs for five years, and deliveries start on 1 January 2016. Including the services that Coor already delivers at Fornebu, total yearly contract value with Aker Solutions is approximately SEK 160 m, not including variable restaurant sales.

"This new contract further deepens the ties between our two companies. We are extremely proud that Aker Solutions has chosen Coor as their IFM partner for most of their large facilities in Norway. We look forward to building a mutually beneficial partnership during the contract period,” 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 October 8, 2015 at 08:00 CET.

For more information, images etc., please visit www.coor.com or contact:

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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