Alcan Inc. (NYSE, TSX: AL) and CGI Group Inc. (CGI) (TSX: GIB.A; NYSE: GIB) today announced the signing of a contract for a 10-year information technology (IT) outsourcing agreement valued at CDN$170 million. The signing of the memorandum of understanding was initially announced on July 30, 2002.
CGI will manage Alcan's help desk operations and provide user support, data centre management services as well as electronic messaging systems. It will serve Alcan's operations in Quebec, British Columbia as well as some operations in the United States. The contract will lead to the creation of 60 additional jobs while maintaining 100 existing jobs at CGI's application development and technology support centre in Saguenay.
Alcan is a multinational, market-driven company and a global leader in aluminum and specialty packaging with 2002 revenues of US$12.5 billion. With world-class operations in primary aluminum, fabricated aluminum as well as flexible and specialty packaging, Alcan is well positioned to meet and exceed its customers' needs for innovative solutions and service. Alcan employs 48,000 people and has operating facilities in 38 countries. In Québec, Alcan employs 8,500 people in its world headquarters, in Montreal, and in more than 20 power, chemical, smelting and fabricating facilities.
Founded in 1976, CGI is the fourth largest independent information technology services firm in North America, based on its headcount. CGI and its affiliated companies employ more than 21,000 professionals. CGI's annualized revenue run-rate is CDN$3 billion (US$2 billion) and at December 31, 2002, CGI's order backlog was CDN$10.7 billion (US$7.1 billion). CGI provides end-to-end IT and business process services to more than 3,500 clients worldwide from offices in Canada, United States and Europe. CGI's shares are listed on the TSX (GIB.A) and the NYSE (GIB) and are included in the TSX 100 Composite Index as well as the S&P/TSX Canadian Information Technology and Canadian MidCap Indices. Website: www.cgi.com.
Statements made in this press release which describe the Company's intentions, expectations or predictions may be forward-looking statements within the meaning of securities laws. The Company cautions that, by their nature, forward-looking statements involve risk and uncertainty and that the Company's results could differ materially from those expressed or implied in such statements. Reference should be made to the most recent Form 10-Q for a summary of major risk factors.
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