New IT services contract signed with Tieto Corporation
M-real Corporation Stock Exchange Release on 3 December 2009 at 12.00
M-real Corporation, a part of Metsäliitto Group, has signed a new
three year IT services contract with Tieto Corporation. The new
contract will become effective on 1 July 2010.
The earlier contract with the previous vendor has been terminated
with effect of 30 June 2010. The size of M-real's operations has
significantly decreased since the existing IT contract was signed in
2003.
The change in the IT services, that is a part of the earlier
announced EUR 90 million profit improvement programme 2009, is
expected to result in EUR 30 million annual cost savings from 2010
onwards.
"After the recent changes in the company structure, we defined the
right scope of IT services to fit the current needs. Together with
Tieto we were able to find a cost efficient and flexible service
package for the renewed structure of M-real. This is a major profit
improvement action for M-real," comments CEO Mikko Helander.
M-real will book an onerous contract related non-recurring cost
provision of about EUR 12 million in 4Q 2009.
For further information, please contact:
Matti Mörsky, CFO, tel. +358 10 465 4913
Juha Laine, Vice President, Investor Relations and Communications,
tel. +358 10 465 4335
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.
