Coor Service Management in new collaboration with Veidekke regarding school in Norway

Coor Service Management has signed a new agreement with Norwegian construction group Veidekke relating to a Public Private Partnership (PPP) project in Norway. The assignment entails Coor assuming responsibility for maintenance and FM services at Rykkinn School in Bærum outside Oslo for 25 years.

The new agreement covers coordination and management of services such as property maintenance, janitor services and cleaning. The contract has a term of 25 years with a total contract value of some NOK 100 m, of which NOK 75 m relates to fixed subscription services. Operations are scheduled to start in August 2016 when the school year begins.

“PPP projects place high demands on the quality of construction contractors and service providers alike. Coor has the experience and competence required for this kind of assignment. This is our first PPP partnership alongside Coor, and we look forward to professional delivery and a positive collaboration, commented Erik Økland, Head of Division at Veidekke Entreprenør AS.

Coor has signed a large number of contracts with new customers in Norway in recent years. Net sales in the Norwegian operations increased by 36% to SEK 2,103 m in the full year 2015, corresponding to 28% of Group sales.

“We’re pleased with this new collaboration and look forward to optimizing the assignment alongside Veidekke. Demand on the FM market is generally stable throughout the Nordics, particularly in Norway where we continue to perceive growth potential. Accordingly, we’ve strengthened our Norwegian operations in recent years and are well equipped to meet demand in the region,” commented Mikael Stöhr, President and CEO of Coor Service Management. 

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, 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 31 December 2015, the company had 6,400 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

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