Loomis sells Loomis Cash Management (LCM) operation in the UK
Loomis AB’s cash handling operation in the United Kingdom Loomis Cash Management Ltd (LCM) has sold its fixed assets and operation to Vaultex UK Ltd jointly owned by HSBC Bank plc and Barclays Bank PLC. The hand over of operation, assets and employees has taken place on November 24, 2007.The sale of the fixed assets and the operations will result in a loss of approximately MSEK 160 (MGBP 12) due to a lower transaction price than book value and a provision made for warranties agreed with the buyer. The loss will be accounted for in the fourth quarter 2007.On November 24, 2007 a final stock