Services, maintenance and building company, Interserve Plc (IRV.L), Tuesday, said it has received a three-year facilities management contract worth GBP 200 million from HSBC and is commencing service delivery today. Interserve stated that the contract represents a further integration of HSBC's support services functions.
As per the agreement that has a potential two-year extension, Berkshire, UK-based Interserve will deliver facilities services at more than 1,600 retail and 120 office sites across UK, Channel Islands and Isle of Man.
In July 2009, HSBC had named Interserve as preferred bidder for the facilities management deal, which was anticipated to be signed in autumn.
Interserve said it has undertaken a complex handover including the transfer, under TUPE regulations, of more than 2,000 staff from various incumbent suppliers and also from HSBC. Interserve also added that the deal is one of the largest of such contracts in the UK.
The responsibilities of Interserve include the delivery of services to the headquarters of HSBC group in Canary Wharf, in addition to an estate which includes ATM cash machines, retail branches, commercial centres, offices, data centres, sports, social facilities and training centres. In total, Interserve will be managing facilities over an area of 720 thousand square meters.
Key support services in the agreement include a centralised service, helpdesk and performance centre, building services, fabric maintenance, cleaning, catering and utilities management, in a 'total' facilities management package.
Interserve will also support HSBC to measure its environmental performance and make adjustments to meet its targets in energy efficiency, recycling levels, water usage, waste reduction and CO2 emissions.
The service centre will be a single point of contact for the customers of HSBC, and will also manage and report on performance across the contract, Interserve added. The service centre expects to manage over 200 thousand telephone calls and up to 300 thousand emails a year, and is located within Redditch-based National Service Centre of Interserve.
IRV is currently trading on the London Stock Exchange at 222.80 pence per share, up 15.60 pence or 7.53% on a volume of 100,263 shares. In the past 52-week period, the shares have been trading in a range of 155.00 pence to 270.80 pence.
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