Coor Service Management Extends Collaboration with Gjensidige

Regulatory News:

Insurance group Gjensidige has chosen to extend and expand its collaboration with Coor Service Management (STO:COOR). For Coor’s part, the agreement relates to delivery of damage services (decontamination) totaling an estimated contract value of some NOK 110 m annually.

Gjensidige is a leading Nordic non-life insurance group. In connection with a review of contracted damage service companies active in the management and decontamination of damages affecting insurance company customers, Skadegruppen (which includes Coor) has been allocated increased damage services volumes. Coor estimates the total contract value at some NOK 110 m annually, corresponding approximately to a 30% increase compared to previous volumes. The new agreement is effective from January 2016 and spans three years.

"Coor is one of the leading damage services players in Norway, and we are delighted that Gjensidige has decided to renew their agreement with us. Gjensidige is a customer with high demands on quality and delivery accuracy, and we look forward to continue developing our delivery together with them,” commented Mikael Stöhr, President and CEO of Coor Service Management.

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

The information is disclosed pursuant to the Swedish Financial Instruments Trading Act. The information was submitted for publication on January 18, 2016, at 8:30 CET.

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 30 June 2015 the company had 6,800 employees based mainly in Sweden, Denmark, Norway and Finland, and annual sales of SEK 7,400 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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