Akastor ASA: Frontica signs five year contract with Aker Solutions
Frontica has signed a five year contract with Aker Solutions to deliver staffing services, IT services and consultancy projects as well as business support services within HR, finance and procurement.
Under the terms of the contract, Frontica will also contribute to productivity
improvements and cost reductions in these areas for Aker Solutions.
Niels Didrich Buch, CEO of Frontica says: "This outsourcing contract positions
Frontica as a strong contender in the corporate services industry and confirms
our position as a market-leading staffing company in the oil and gas sector.
The agreement will help boost cost efficiency at Aker Solutions through
Frontica's predictable and strong service platform, enabling our client to focus
on its core business."
Svein Stoknes, CFO of Aker Solutions comments: "We are pleased to continue our
long term relationship with Frontica through this contract. Frontica is a major
supplier to Aker Solutions and the new agreement provides a good framework for
driving cost optimization and business improvements in key areas across our
The contract value of outsourcing services (ITO and BPO) is estimated to be
between NOK 1-1.25 billion annually over five years and will be reflected in
Frontica's order backlog from first quarter of 2016. Staffing services, with an
estimated value of additional NOK 1 billion annually (depending on volume) will
not be booked as order intake due to the nature of this business.
For more information, please contact:
Head of Communications and Investor Relations
Tel: Office: +47 21 52 58 10
Mobile: +47 90 77 78 41
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.