Loomis acquires Big 10 Armor CIT operations
Loomis Armored US, LLC, fully owned subsidiary of Loomis AB, has agreed to acquire the assets and customers contracts from Badger Armor, Inc. dba Big Ten Armor in the states of Wisconsin and Minnesota.
Loomis will acquire customer contracts, with an annual invoicing of 9.5 M USD, for customers based in both states along with taking on their 160 employees and their 60 vehicles.
- Through this acquisition, we will be able to further enhance our presence in the Upper Midwest portion of the US. In addition we are now able to provide enhanced services such as SafePoint to markets we previously did not service, says Loomis’ CEO Lars Blecko.
The acquired business will be consolidated in Loomis as of November 1, 2010 and will be integrated in Loomis' US subsidiary.
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Loomis offers safe and effective solutions for the distribution, handling and recycling of cash for banks, retailers and other commercial companies via an international network consisting of more than 370 branch offices in 13 European countries and in the US. Loomis has 20 000 employees and a turnover of 12 billion Swedish kronor. Loomis is a midcap listed company on NASDAQ OMX Stockholm.
Loomis AB discloses the information provided herein pursuant to the Swedish Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 8.30 a.m. (CET) on November 1st, 2010.