Helsinki, Finland and Bangalore, India - June 12, 2014:
Wipro Ltd. (NYSE:WIT), a leading global Information Technology, Consulting and Outsourcing company, today announced that it has been selected by Outokumpu (OMX HEL: OUT1V), a global leader in stainless steel, as its Global Prime Partner for applications maintenance and development of legacy applications across ten countries including UK, Poland, Italy, Spain, Germany, Sweden, Finland, USA, Mexico and China.
The multi-year contract is geared towards bringing cost efficiencies and enabling enhanced optimization of applications within HR, Finance, Procurement, Market & Business Intelligence, Marketing and Communications, Supply Chain, Production and R&D, and Integration & Platform areas, thereby helping Outokumpu with their ongoing efficiency and cost saving measures to improve profitability.
Globally, select employees from Outokumpu IT are expected to be transferred to Wipro. As part of the partnership they will initially continue to be based at their current locations, with roles and tasks that remain largely the same.
Patrik Ekström, Chief Information Officer – Outokumpu said, "As Outokumpu continues to drive performance improvements, synergies and cost reductions across its businesses and group functions, we want to reiterate our commitment to invest in IT transformation and optimization. We are pleased to bring on board a valuable partner like Wipro to help us drive our target of becoming a profitable market leader in stainless steel."
N S Bala, Chief Executive – Manufacturing and Hi-Tech, Wipro Ltd, said, "We are delighted to have been chosen as a strategic global Prime Partner by Outokumpu in their transformational journey. Wipro will leverage its strong understanding of the manufacturing business domain and capabilities in new and emerging technologies, to enable Outokumpu to become more agile, and streamline information sharing across their manufacturing value chain."
Wipro combines years of manufacturing domain experience with technology solutions that embrace data, analytics, mobile, cloud, social networks and high performance computing. The company offers strategic business and technology solutions and advises customers on Business Process Optimization & Engineering, cutting across diverse functional and engineering areas such as Supply Chain Management (SCM), Product Lifecycle Management (PLM) and Manufacturing Enterprise Solutions (MES). It also enables intuitive man-to-machine interactions, provides industry insights using analytics and drives innovation across intelligent, connected devices for better customer experiences.
About Wipro Ltd.
Wipro Ltd. (NYSE:WIT) is a leading Information Technology, Consulting and Outsourcing company that delivers solutions to enable its clients do business better. Wipro delivers winning business outcomes through its deep industry experience and a 360 degree view of "Business through Technology" - helping clients create successful and adaptive businesses. A company recognized globally for its comprehensive portfolio of services, a practitioner's approach to delivering innovation, and an organization wide commitment to sustainability, Wipro has a workforce of 140,000 serving clients across 61 countries. For more information, please visit www.wipro.com.
About Outokumpu Outokumpu is the global leader in stainless steel. We create advanced materials that are efficient, long lasting and recyclable – thus building a world that lasts forever. Stainless steel, invented a century ago, is an ideal material to create lasting solutions in demanding applications from cutlery to bridges, energy and medical equipment: it is 100% recyclable, corrosion-resistant, maintenance-free, durable and hygienic. Outokumpu employs more than 12 000 professionals in more than 40 countries, with headquarters in Espoo, Finland and shares listed in the NASDAQ OMX Helsinki. www.outokumpu.com
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Forward-looking and Cautionary Statements
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property, and general economic conditions affecting our business and industry. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.