CSC announces outsourcing agreement with Montgomery Kone Inc.FALLS CHURCH Falls Church, independent city (1990 pop. 9,578), NE Va., a residential suburb of Washington, D.C.; inc. as a town 1875, as a city 1948. There is diverse light manufacturing, including telecommunications equipment. , Va.--(BUSINESS WIRE)--Aug. 12, 1996--Computer Sciences Corp. (NYSE NYSE See: New York Stock Exchange :CSC) has been awarded a 10-year, $40 million outsourcing contract to manage the computer operations of Montgomery KONE KONE Kites Over New England Inc., with headquarters in Moline, Ill. Montgomery KONE (MKO Noun 1. MKO - a terrorist organization formed in the 1960s by children of Iranian merchants; sought to counter the Shah of Iran's pro-western policies of modernization and opposition to communism; following a philosophy that mixes Marxism and Islam it now attacks the ) is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of KONE Corp. of Finland, one of the largest elevator companies in the world. The contract calls for CSC to manage mainframe and desktop support, and provide network management, help desk, application maintenance and related software and services to support Montgomery KONE's global operations Global Operations is a first-person shooter computer game developed by Barking Dog Studios and published by both Crave Entertainment and Electronic Arts. It was released in March of 2002, following its public multiplayer beta version which contained only the Quebec map. . The company maintains 194 branch offices and service sites, 22 international distribution points and five manufacturing facilities. It has locations in all 50 states. MKO markets all types of elevators, including passenger, medium and high-rise systems, scenic elevator cabs, hospital, freight, escalators and power walks. It also provides elevator components, planning and maintenance services as well as technical consultation. "This agreement will allow Montgomery KONE to better accommodate the demands on their I/T I/T Inner Tank resources as we modernize their systems and lower their costs," said Van B. Honeycutt, president and chief executive officer of CSC. "At the same time, we also see the opportunity to introduce new and innovative process changes and business practices to increase MKO's global competitiveness." In addition to providing a full product line of elevators, escalators and power walks, MKO is increasing its focus on providing maintenance services for all elevator brands throughout the United States and Canada. "We see an attractive and growing global market in the elevator and escalator industry," said Heimo Makinen, MKO's president. "Our market is changing and we believe this outsourcing contract will bring us new technology to ensure our competitiveness as we strengthen our position in North America." KONE Corp. employs more than 20,000 people and posted revenues of $2.2 billion in 1995. KONE maintains a presence in more than 40 countries and corporate headquarters in Helsinki, Finland and Brussels, Belgium. The bulk of KONE's sales are in the European Union European Union (EU), name given since the ratification (Nov., 1993) of the Treaty of European Union, or Maastricht Treaty, to the European Community nations. North America accounts for almost 30 percent of its sales activities. The company is also active in Asia, Australia and throughout the rest of Europe. CSC had $5.0 billion in revenues for the 12 months ended June 30, 1996, including revenues from the recently acquired Continuum Co., which have been combined with CSC's revenues because the acquisition is accounted for as a pooling of interests Pooling of Interests An accounting method, used in mergers and acquisitions, where the balance sheet items of the two companies are simply added together. Notes: The opposite of pooling of interests is the purchase acquisition method. . The company has headquarters in El Segundo, Calif., and has nearly 40,000 employees in more than 600 offices worldwide providing clients with a wide range of professional services including management consulting, business reengineering, information systems consulting and integration, and outsourcing. -0- Media queries to CSC can be made through the Internet at rpickard@csc.com. CSC's Internet home page address: http//www.csc.com. CSC press releases and literature can be requested via Fax on Demand at 800/549-0676 or via mail at 800/615-4455. CONTACT: Computer Sciences Corp. Bruce Plowman/Spencer Davis/Bob Pickard, 310/615-0311 or John Gulick, 703/641-2588 |
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