Oriola and provider for new logistics and warehouse IT system agree settlement
17.8.2018
Oriola Corporation Stock Exchange Release 17 August 2018 at 9.45 a.m.
Oriola and provider for new logistics and warehouse IT system agree settlement
Having completed actions to stabilize the performance of the logistic operations in Finland during Q2 of 2018, Oriola Corporation and their provider for the new logistics and warehouse IT system have in good faith negotiations mutually agreed to end the current contract by 31st December 2018 by entering into a settlement agreement.
The parties have agreed on a no liability basis that the provider for the new IT system will contribute an amount of EUR 9 million to Oriola’s incurred costs. The amount will be paid to Oriola during the third and fourth quarters of this year and recognized by Oriola in other operating income during the third quarter of 2018. Oriola will pay provider an amount of EUR 1 million for work performed following the new logistics and warehouse IT system go-live in September 2017.
Until 31st December 2018, the provider will continue to deliver chargeable services, including an orderly transition of services, to Oriola.
Oriola’s guidance stays unchanged: Adjusted EBIT of continuing operations on constant currency basis is estimated to increase from the 2017 level.
Oriola Corporation
Robert Andersson
President and CEO
Further information:
Robert Andersson
President and CEO
Tel. +358 10 429 2109
Email: robert.andersson@oriola.com
Tuula Lehto
Group Communications Director
Tel. +358 40 5885 343
Email: Tuula.lehto@oriola.com
Distribution:
Nasdaq Helsinki Ltd.
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Oriola Corporation
Corporate Communications
Orionintie 5
02200 Espoo
www.oriola.com