Wipro wins Contract from Stainless Steel Producer, Outokumpu
Wipro Limited (NYSE:WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, announced that it has won a five-year IT applications management contract from Outokumpu. Headquartered in Finland, Outokumpu is a global leader in stainless steel.
Outokumpu has realized business efficiencies through operational excellence and cost optimisation measures as part of its 2020 Vision to be the best value creator in stainless steel. To further streamline its IT operations and improve efficiency, Outokumpu has selected Wipro to be its strategic IT partner.
As part of the five-year contract, Wipro will provide applications management services for Outokumpu's SAP landscape along with legacy applications support to cover Outokumpu locations, globally. Leveraging the Wipro HOLMES� artificial intelligence platform, Wipro will drive the next phase of delivery through enhanced user experience and productivity and accelerate processes through automation.
"Outokumpu continues to drive performance improvements, synergies and cost efficiency across its businesses and group functions. Investments in IT transformation have a key role in reaching these targets," said Roeland Baan, CEO, Outokumpu. "Wipro has proven that they know how to support Outokumpu in our transformation. We look forward to their continued positive contribution and strengthening our partnership with Wipro."
Abidali Z. Neemuchwala, CEO and Member of the Board, Wipro Limited said, "Wipro has been committed to delivering business efficiency to Outokumpu over the last four years. I am proud to win their continued confidence in us. We will leverage our strong understanding of the manufacturing business domain and capabilities in new and emerging technologies, to enable Outokumpu become more agile, deliver innovative products and solutions to their customers faster and strengthen their leadership position in the market place."
"It is always pleasing to win a new agreement from our existing customer. It shows that we have not only done a good job but are able to demonstrate continuous improvements to win their future confidence," said Carl-Henrik Hallstr�m, Head of the Nordic Region, Wipro Limited. "This deal also reiterates our continued focus and investments in Finland. We are confident that we will be able to leverage our technology expertise and capabilities to drive significant value for Outokumpu."
The Nordic region has been a key market for Wipro since 1999. It started its engineering and product R&D collaboration with two of the world's largest telecom equipment manufacturers and set up its first sales office in the Nordic region in 2006. Today, Wipro has a strong foothold in the market through its multiple offices in Nordic countries, localized teams and engagements with some of the top customers in the region across manufacturing, energy, natural resources & utilities, telecom and retail sectors.
Shares of WIPRO LTD. was last trading in BSE at Rs.298.95 as compared to the previous close of Rs. 297.2. The total number of shares traded during the day was 382973 in over 2438 trades.
The stock hit an intraday high of Rs. 300 and intraday low of 297.7. The net turnover during the day was Rs. 114477704.
Source: Equity Bulls
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