Equinor Extends Offshore Agreement With Coor

STOCKHOLM, March 31, 2020 /PRNewswire/ -- Coor has delivered facility management services to five of Equinor's oil platforms since 2015. Equinor has chosen to extend the agreement by three years by exercising an option under the contract. The agreement is worth just under SEK 200 M annually. The extension applies from 1 July 2020.

Coor is responsible for providing and developing a number of services for Equinor's staff working on the company's oil platforms. These include restaurant services, cleaning, accommodation and reception. Coor has just over 200 employees offshore.

"The offshore delivery is an exciting contract that focuses on health and safety in an environment different from our other contracts. The fact that we at Coor can manage and develop this kind of contract is clear evidence of our broad-based expertise. The fact that Equinor has now chosen to extend the agreement confirms our position as the market leader in IFM in Norway and the Nordic region as a whole," commented Mikael Stöhr, President and CEO of Coor.

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

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

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https://news.cision.com/coor/r/equinor-extends-offshore-agreement-with-coor,c3077504

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