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React wins three-year contract from facilities management customer
StockMarketWire.com
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Cleaning company React said it had won a material contract to supply reactive cleaning and decontamination services to 'one of the world's leading facility management companies'.
The three-year contract represented a 'material' increase in business with one of React's existing customers to provide cover to a portfolio of over 2,000 sites throughout mainland Great Britain.
'This award is part of the customer's strategy to consolidate supply chains in this category of work, from several hundred smaller suppliers to just one,' it said.
'The contract will take time to reach maturity while the customer transitions a vast portfolio of locations, which are currently serviced by other suppliers.'
'React have been gearing up to take on this additional commitment and is well placed to support the roll out of both local customer engagement and rapid service delivery.'
'Although difficult to pinpoint the exact revenue value of the contract given the reactive nature of the work and the time required to transition local and regional relationships from their current suppliers, the customer has historically spent in the region of £2 million per year on this specialist category of work, a figure that has expanded further due to Covid-19 and the result of the customer's own success in growing its portfolio of clients.'
Story provided by StockMarketWire.com
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