Synstar PLC
5 March 2002
Synstar Plc
5 March 2002
Synstar Plc
('Synstar')
Synstar announces 5-year deal with ICL and good recovery of French operation
Synstar Plc today announces that it has signed a five-year deal with ICL, one of
the leading IT solutions companies in Europe, Middle East and Africa.
ICL has appointed Synstar to provide selective sub-contract services to its UK
customer base. Revenues from this deal will increase as the contract matures,
and is set to make ICL one of Synstar's top 10 customers within a year.
Synstar has also decided to withdraw its complaint to the Office of Fair Trading
against ICL made in 1997 in respect of non-competitive practices. Both parties
have now agreed to no longer pursue this action.
Synstar also announces new contract wins in France, which include a £900,000
deal with NCR to provide hardware maintenance services, a network contract with
Sony, project work with Sanofi, an existing customer and a services and
maintenance contract with Antargaz. The combined value of these deals is
approximately £2,000,000 per annum.
Steve Vaughan, Synstar CEO commented: 'We are delighted to have turned around
our relationship with ICL from one of litigation into what promises to be a
strong partnership. The new deals signed in France underpin our plan to return
this operation to profit. These deals are further examples of the good progress
we are continuing to make with our recovery strategy.'
For further information:
Synstar Plc
Christine Jones 01344 662744
GCI Financial
Roger Leboff / Geoff Callow 020 7072 4200
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.