Securitas acquires CGS Customer Ground Services SA in Switzerland
Protectas SA, the Swiss operations of the Securitas Group, has acquired 85 per cent of CGS Customer Ground Services SA in Zurich with annual sales of MCHF 10 (MSEK 62) and 100 employees. The company is active in security services, mainly document verification in the airports in Zurich, Geneva and Basel. The company has a good growth and good profitability.
The purchase price for 85 per cent of the shares amounts to MCHF 5,1 (MSEK 32) which gives a goodwill of MCHF 4,7 (MSEK 29) to be amortized over ten years. Protectas has an option to buy the remaining 15 per cent of the shares after the end of 2004. The company will be consolidated in the Securitas Group as from October 1st, 2002 and will contribute positively to the results of the Securitas Group in 2002.
After the acquisition the total annual sales in security services in Switzerland will amount to MCHF 90 (MSEK 558) with 1000 employees.
Securitas is a world leader in security, providing services within
guarding, alarms, cash handling and consulting & investigations.
The group has about 230,000 employees in more than 30 countries.
Further information can be obtained from Thomas Berglund, President and CEO, Håkan Winberg, Executive Vice President and CFO and Henrik Brehmer, Investor Relations, phone: +44 208 432 6500