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Bluebell, Pennsylvania, May 19, 2021 / PRNewswire /- Unisys (New York Stock Exchange:Institute of Statistics) Announced today that the main pension plan related to its Dutch subsidiary has been transferred to the multi-client circle in the multi-employer fund, effective May 1.This transaction resulted in the liquidation of all pension liabilities related to the plan, with a value of approximately USD 550 million, From the company’s balance sheet.
Unisys expects that this move will result in a one-time, non-cash, pre-tax settlement fee of approximately $185 million.
This move, together with the company’s recently announced one-time cash acquisition offer and a separate annuity purchase for its U.S. pension plan, resulted in the deletion of a total of approximately $1.1 billion Pension liabilities in Unisys’ balance sheet.
“Our pension plan is Dutch Represents our latest step towards the goal of reducing global pension liabilities $1.2 billion“, Unisys Chief Financial Officer said Mike Thomson. “We look forward to achieving this goal, and we will continue to consider and take further actions to further reduce the potential volatility and costs associated with our pension obligations.”
About Unisys
Unisys is a global IT solutions company that can provide successful results for the most demanding companies and governments. Unisys’ products include digital workplace services, cloud and infrastructure services, software operating environments for high-strength enterprise computing, business process solutions and application development services. Unisys integrates security into all its solutions.For more information on how Unisys serves customers in the government, financial services and commercial markets, please visit www.unisys.com.
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Forward-looking statements
Any statements contained in this press release that are not historical facts are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. All forward-looking statements are based on assumptions and are subject to various risks and uncertainties, which may cause actual results to differ materially from expectations. We may further discuss factors that may affect Unisys’ future performance in regular documents submitted to the Securities and Exchange Commission.
Issue Number: 0519/9838
Unisys and other Unisys products and services mentioned in this article and their respective logos are trademarks or registered trademarks of Unisys Corporation. Any other brands or products mentioned in this article are regarded as trademarks or registered trademarks of their respective owners.
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SOURCE Unisys Corporation
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