Insourcing of maintenance after successful transformation: Quant AB

Insourcing of maintenance after successful transformation: Quant AB

PR Newswire

STOCKHOLM, Nov. 10, 2020

STOCKHOLM, Nov. 10, 2020 /PRNewswire/ -- NKT has decided to insource its maintenance after the successful transformation of maintenance operations performed by Quant. The decision concerns five sites in Sweden, Poland, Denmark, and Czech Republic. The contract with the NKT site in Karlskrona is not affected by the decision. The insourcing will be effective as of 30 June 2021. Quant will reduce its contract portfolio value with EUR 9.2 million in its quarterly report for the fourth quarter of 2020.

After three years of partnership, Quant and NKT have achieved main agreed objectives. The objectives were to leverage on Quant's proven maintenance concept to enhance safety culture and performance, increase technical availability for bottleneck machines and improve total maintenance cost per ton produced per site.

"During the three years of partnership, we have realized performance improvements and have today an improved way of working at all sites with regards to maintenance. It is now time to continue this change journey internally. This change of our way of working would not have been achievable in this short time, without Quant as a driver of the transformation" says Tue Vaaben, SVP Head of operations Applications at NKT.

Quant will continue to manage and develop the maintenance at the respective sites until 30 June 2021 to ensure finalization and smooth handover of maintenance operations to NKT.

Stockholm, 10 November 2020

Quant AB (publ) 

For further information, please contact:
Tomas Rönn, CEO: +46 720 92 11 20
André Strömgren, CFO: +46 708 410 796
E-mail: ir@quantservice.com

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 20 countries world-wide, employing 2,400 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 08:00 CET on 10 November 2020.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/quant-ab/r/insourcing-of-maintenance-after-successful-transformation,c3207301

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https://mb.cision.com/Main/17752/3207301/1313130.pdf

Press Release - Insourcing of maintenance

 

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