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Novartis Not Expected to Renew ISS Contract

28.05.2019, 11:30

Novartis Not Expected to Renew ISS Contract

ISS is not expecting an extension to its DKK 2.0 billion (£266.2 million) integrated facility services contract with global pharmaceutical company, Novartis.

First awarded in 2012, the contract which relates to 22 production, distribution and administrative sites in four countries, expires on 31 December 2019.

In 2018 the contract generated 2.8 per cent of the Danish integrated facility service provider’s global revenues.

ISS forecasts any potential impact to be marginal at between 0.1 and 0.2 per cent of its total operating revenues during the first 12 months.

CAMFIL HVAC Filtration Solutions

Staff Reporter

FMIndustry.com covers the latest news, trends and opinion from the facilities management (FM) and corporate real estate (CRE) sectors. The FM market is currently estimated to be worth USD 1 trillion annually and is projected to grow at a compounded annualised rate of approximately 5% between now and 2026.

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