Norwegian engineering and construction services provider Kvaerner has awarded a five-year contract to the corporate service provider Frontica to deliver IT and business support services within HR Operations and Finance.
Under the terms of the contract, Frontica will also contribute to productivity improvements and cost reductions in these areas for Kvaerner, the company said on Friday.
The contract value is estimated to be NOK 650 million ($77.5M) over five years and is effective from January 2017.
Niels Didrich Buch, CEO of Frontica, says: “This outsourcing contract positions Frontica further as a strong contender in the corporate services industry. The agreement will strengthen the partnership between Kvaerner and Frontica and enable Kvaerner to focus on its core business.”
Knut Johan Malvik, EVP of Kvaerner, comments: “We are pleased to continue our long-term relationship with Frontica through this contract. Frontica is an important supplier to Kvaerner and the new agreement provides a good framework for driving cost optimization and business improvements in key areas across our global organization.”