Mosaic wins $80-million outsourcing contract
Mosaic Group Inc MGX
Shares issued 63,896,478 Oct 5 close $7.35
Wed 6 Oct 99 News Release
Mr. Michael Preston reports
Mosaic Group Inc., Canada's leading outsourced marketing services agency,
has secured an $80-million sales services contract win with Prudential PLC
in the United Kingdom. The contract is worth $16-million per year, for a
term of five years beginning in 2000.
FMCG, a U.K.-based subsidiary of Mosaic Group, will be selling
non-regulated general insurance products directly to consumers in their
homes. FMCG will recruit a total of 200 field sales personnel and 23 sales
force managers to work on the project. Earlier this year, Prudential agreed
to outsource the cash collections of insurance premiums to Mosaic Group for
$150-million over five years.
"This outsourced sales program grew out of a highly successful pilot
program that we have been operating for the Prudential for over a year,"
said Kate Carr, managing director of FMCG. "Mosaic Group has built a strong
long-term relationship with the Prudential through the proven excellence of
our field personnel."
"We are excited about the relationship we have developed with the
Prudential," said Michael Preston, chairman and chief executive officer of
Mosaic Group. "Combined with our field service contract win earlier this
year, we will be doing $230-million of field work for the Prudential over
the next five years.
"Our expertise in executing strategic outsourced sales and marketing
programs continues to expand the scope and size of the partnership
agreements that Mosaic is winning," Mr. Preston continued. |
