STONEMOR INC. ANNOUNCES STRATEGIC MULTI-YEAR PROPERTY MANAGEMENT AND OPERATIONAL SERVICES AGREEMENT WITH MOON LANDSCAPING
StoneMor Inc. (STON)
US:NYSE Investor Relations:
stonemor.com/investors/default.aspx
Company Research
Source: GlobeNewswire
TREVOSE, Pa., April 02, 2020 (GLOBE NEWSWIRE) -- StoneMor Inc. (NYSE: STON), a leading owner and operator of cemeteries and funeral homes, today announced it has entered into a multi-year Master Services Agreement (“MSA”) with Moon Landscaping (“Moon”) to develop, implement and provide all manner of property management and operational services at most of the funeral homes, cemeteries and other properties owned or managed by StoneMor. Under the terms of the MSA, Moon will hire all of StoneMor’s grounds and maintenance employees at the serviced locations and will perform all functions currently handled by those employees, including, but not limited to, landscaping, openings and closings, burials, installations, routine maintenance and janitorial services. The implementation of the MSA will take place on a clustered basis over the next three to four months, with full implementation expected no later than July 31, 2020. The total value of the contract, which runs through December 31,
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