MITIE Inks GBP155 Million Facilities Management Pact With Lloyds Banking

Date : 04/26/2012 @ 8:32AM
Source : Dow Jones News
Stock : Lloyds Banking Grp. Plc American Depositary Shares (LYG)
Quote : 3.65  0.01 (0.27%) @ 3:59PM

MITIE Inks GBP155 Million Facilities Management Pact With Lloyds Banking

Mitie (LSE:MTO)
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MITIE Group PLC (MTO.LN), a outsourcing and energy services company, Thursday said it signed a contract worth GBP155 million per annum to deliver facilities management services for Lloyds Banking Group (LLOY.LN).

MAIN FACTS:

-Contract is signed for a five year term and has a possible one year extension period.

-MITIE will be providing a complete range of facilities management services across the bank's entire U.K. branch and office estate.

-Services to be delivered include catering, reception, engineering maintenance, cleaning, security, waste management, minor capital reactive works, office space management and a range of other services.

-Will also manage utilities expenditure under the contract along with a comprehensive energy management and carbon emissions reduction plan.

-Shares of MITIE at 1158 GMT up 3 pence, or 1.2%, at 294.6 pence.

-By Tapan Panchal, Dow Jones Newswires. Tel +44(0)207-842 9448, tapan.panchal@dowjones.com

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