STOCKHOLM, Sept. 30, 2019 /PRNewswire/ -- Quant has extended a Total Maintenance Partnership agreement with long-time customer Norilsk Nickel Harjavalta Oy. In connection with the extension of the maintenance contract, a financial institute will take over a spare parts inventory related to the site on behalf of Norilsk Nickel Harjavalta Oy, resulting in a positive cashflow effect of EUR 7.2 million for Quant Finland Oy.
Norilsk Nickel Harjavalta Oy and Quant Finland Oy have agreed to extend the current Total Maintenance Partnership agreement. The contract was originally entered in 1999 and covers the total maintenance on the Norilsk Nickel Harjavalta site. In connection with the extension of the maintenance agreement, a finance institute will take over a spare part inventory valued at EUR 7.2 million on behalf of Norilsk Nickel Harjavalta Oy. The transaction will affect Quant's cash flow statement positively with EUR 7.2 million during the third quarter of 2019.
– The extension of the Total Maintenance Partnership agreement marks another chapter in our partnership with Norilsk Nickel. We are committed to continue to deliver the full value of maintenance to Norilsk Nickel, says Pekka Venäläinen, SVP Region Manager Europe.
Stockholm, 30 September 2019
Quant AB (publ)
Quant AB (publ) is a global leader in industrial maintenance. For over 30 years, we have been realizing the full potential of maintenance for our customers. From embedding superior safety practices and building a true maintenance culture, to optimizing maintenance cost and improving plant performance, our people make the difference. We are passionate about maintenance and proud of ensuring we achieve our customers' goals in the most professional way. The group operates internationally in close to 30 countries world-wide, employing 2,600 people. The parent company is located in Stockholm, Sweden.
Quant AB (publ) is privately held by Nordic Capital since 2014. For additional information about the group, please visit www.quantservice.com.
This information is information that Quant is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 15:45 CET on 30 September 2019.
For further information, please contact:
Pekka Venäläinen, SVP Region Manager Europe: +46-705-36-91-25
André Strömgren, SVP Transformation & Investor Relations: +46-708-410-796
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
Press Release - Norilsk Nickel Contract Extension
SOURCE Quant AB