STOCKHOLM, Sweden, April 10, 2002 (PRIMEZONE) -- Finland Post Corporation will outsource its collection and credit management activities to Intrum Justitia Finland. Finland Post Corporation and Intrum Justitia are also expanding their cooperation; in addition to the collection of receivables past due, Intrum Justitia will now prepare credit decisions on customers for the Post and assume responsibility for sending out reminders on payments in arrears.
"This agreement is the first significant business transfer agreement for Intrum Justitia and as such, yet another step forward in our development as providers of Receivables Management Services (RMS)," said Thomas Feodoroff, Managing Director for Intrum Justitia Finland.
The Post has been a client of Intrum Justitia for over a decade. In accordance with its strategy, the Post will now concentrate more fully on its core business areas while simultaneously intensifying its existing partnerships.
"This agreement ensures that the Post will continue to obtain high-quality services and added value through the contributions of experts familiar with the particulars of the Post's credit management and the resources of a leading company in this field," said Finland Post Corporation group services director Risto Paananen.
"Our core activities in the Receivables Management Services area are complemented with the service offer Credit decision, which provides our clients with superior data to prevent credit losses," said Intrum Justitia CEO Feodoroff.
The agreement applies to the Finland Post Corporation parent company and six subsidiaries and involves the transition of five persons to Intrum Justitia.
Intrum Justitia is one of Europe's leading receivables management services group. The group has revenues of over SEK 2.3 billion and has about 2,400 employees in 21 European countries. Intrum Justitia offers efficient high quality management of commercial and consumer receivables in all phases. Intrum Justitia has a growth strategy and aims to take active part in consolidating its industry. In May 2001, Intrum Justitia acquired Dun & Bradstreet's European receivables management operations. For more information, please visit www.intrum.com.
Finland Post Corporation is the leading messaging and logistics company in Finland and is responsible for providing postal services and ensuring that they are generally available in the country. The Post conveys and delivers letters, newspapers, magazines, direct mail advertisements and parcels. In the past few years Finland Post Group has actively expanded into electronic messaging and corporate logistics. The Post provides messaging and logistics services to companies, organizations and households throughout Finland and abroad. Employing 23,000 people, the Group's net turnover in 2001 amounted to EUR 1,046. www.posti.fi.
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