Provider of corporate services Frontica has signed a five-year contract with MHWirth, a provider of drilling solutions and services, to deliver IT services, consultancy projects as well as 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 MHWirth, the corporate services provider said on Wednesday.
The contract value of outsourcing services is estimated to be between NOK 140-150 million annually over five years and is effective from September 1, 2016.
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 MHWirth and Frontica during a challenging time and enable MHWirth to focus on its core business.”
Olav Kavli, SVP & Head of Operational Strategy of MHWirth, comments: “We are pleased to continue our long-term relationship with Frontica through this contract. Frontica is a major supplier to MHWirth and the new agreement provides a good framework for driving cost optimization and business improvements in key areas across our global organization.”