Helsinki – September 23, 2014 – Tech Mahindra Ltd., a specialist in digital transformation, consulting and business re-engineering, today announced that it has been selected by Ahlstrom to manage its Information Technology operations. With the multi-year, multi-million Euro agreement, Ahlstrom aims to increase efficiency, harmonize service levels and lower IT costs.
Tech Mahindra and Ahlstrom have today signed a letter of agreement at a ceremony in Helsinki, Finland regarding the services to be provided by Tech Mahindra. As a consequence, approximately 50 Ahlstrom IT employees globally are planned to move to Tech Mahindra under a business transfer agreement. The planned transfer is expected to take place on December 1, 2014, subject to country specific conditions.
Kristiina Lammila, Vice President, Information Solutions, Ahlstrom commented, “This agreement marks a new phase in the management of our IT services. The arrangement will allow us to build more harmonized IT portfolio at a lower cost. In addition, it provides interesting career and professional development opportunities for the people being retained at Ahlstrom and for those being transferred to our alliance.”
At the signing ceremony Rajesh Chandiramani, Head of Enterprise Business - Continental Europe, Tech Mahindra said, “Finland is a very important and strategic market for Tech Mahindra. We are excited to work with Ahlstrom and be a part of their transformational journey. This agreement will also help us provide a wide array of future opportunities for the Ahlstrom IT professionals globally while helping us with enabling our innovative service offerings for the customers in the region.”
Tech Mahindra generates 31% of revenues from Europe. It boasts of presence in 20 countries and employs 2900+ professionals, enabling leading enterprises including KPN BASE, Volvo and UBS innovate and are future ready. Our near shore centers in Toulouse, Lund, Belgium among others help provide real-time expertise for strategic programs in the region.
# END #
Ahlstrom is a high performance fiber-based materials company, partnering with leading businesses around the world to help them stay ahead. We aim to grow with a product offering for clean and healthy environment. Our materials are used in everyday applications such as filters, medical fabrics, life science and diagnostics, wall coverings and food packaging. In 2013, Ahlstrom's net sales from the continuing operations amounted to EUR 1 billion. Our 3,500 employees serve customers in 24 countries. Ahlstrom's share is quoted on the NASDAQ OMX Helsinki. More information available at www.ahlstrom.com.
For more information, please contact:
Vice President, Communications
Tel. +358 10 888 4757
Certain statements in this release concerning the future prospects of Tech Mahindra Limited (“the Company” or “TechM”) are forward-looking statements. These statements by their nature involve risks and uncertainties that could cause Company’s actual results differ materially from such forward looking statements. The Company, from time to time, makes written and oral forward-looking statements based on information available with the management of the Company and the Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.