Outsourcing Contract with IBM

18 Jan 2007 07:05

Torex Retail PLC18 January 2007 18 January 2007 Torex Retail announces outsourcing contract with IBM Torex Retail PLC, the leading Global Retail systems provider is able to announcethe completion of a contract to out-source its call centre and hardwaremaintenance in France to IBM with effect from the 1st January 2007. The business in France has historically been below optimum scale and thus haslacked the clear scale advantages of some of the local market competitors. Thedeal now completed allows for the transfer of the 58 members of staffundertaking these activities within Torex to transfer to IBM. Underlyingexisting customer contracts will be maintained with Torex Retail, and the workoutsourced to IBM on a fixed price basis. The transfer of this business activity will be earnings enhancing in 2007. - ends - Enquiries: Citigate Dewe Rogerson: Ginny Pulbrook, Director Tel: 020 7638 9571 Seb Hoyle, Director Tel: 020 7638 9571 About Torex Retail - www.torexretail.com Torex Retail is a leading independent provider of cutting edge retail technologysolutions to many of the world's principal retailers. Since the company'sflotation in spring 2004 Torex Retail has achieved rapid growth across all ofits markets and has rigorously pursued its goal of becoming the provider ofchoice. As a result, the company now has a presence in all of the major marketsaround the world and has built a strong platform for future growth in line withits strategy. Torex Retail's product and solution set spans high street andout-of-town retail as well as the petroleum and convenience sector and with over6,000 customer relationships, including Tesco, Woolworth, Selfridges and Argos,the company has earned a leading reputation amongst retailers. Torex Retail hasmore than 2,800 staff based in 22 countries. This information is provided by RNS The company news service from the London Stock Exchange