The Cash Handling Services division of Securitas announced today that it will adopt the name "Loomis" throughout its international network. Currently, the division operates primarily under the Securitas name in Western Europe and as Loomis, Fargo & Co. in the US. The earlier announced spin-off of the unit from Securitas AB will occur sometime during 2007. The listing will take place at the Nordic stock exchange. A more detailed plan for the listing will be announced later.
The Loomis name has a long, colorful history in the US dating back over a century to the Alaska gold rush with roots dating even further to the California gold rush in 1852. The company has long specialized in cash handling services and today offers the largest cash distribution network in the US and Western Europe. In selecting Loomis as its international name, the division emphasizes its deep roots and commitment to the future of the cash handling services industry.
"We are very proud of both our Loomis and Securitas heritages and sought to synthesize these two very strong brands in our new identity," said Chief Executive Officer Håkan Ericson. "Though we choose the Loomis name, it is integrated in a new logo design which very directly recalls our Securitas lineage, while introducing some fresh imagery."
Ericson also emphasized the benefits of establishing a common international identity for the CHS unit. "Because we have operated under different names in Europe and the US, many have not fully realized that we are one company. As banking systems have evolved differently in different countries, this international experience is extremely helpful in responding with efficient recycling solutions to outsourcing trends more developed in certain markets."
The transition to the new identity will begin immediately and be completed by the end of Q1 2007. During the transition period, the division will continue to operate formally under its existing identities.
Securitas Cash Handling Services (Securitas CHS) is a division of Securitas AB, a world leader in security. Securitas CHS and its US operating unit Loomis, Fargo & Co. offer secure and efficient cash distribution, processing and recycling solutions for financial institutions, retailers and other commercial enterprises through an international network of 440 operating locations in ten European countries and the US. Securitas CHS employs approximately 20,000 people.
The press release is also available on: www.securitas.com
Information:
Håkan Ericson CEO, Securitas Cash Handling Division, phone +46705352051
Stefan Wikman, Communications, Securitas Cash Handling Division, phone +46703759828
Securitas Cash Handling Services announces new international brand identity "Loomis"
Published
16 November 2006 14:00
