Group 4 swaps work with Mayne

12th August 1993, Page 10

12th August 1993

Page 10

Page 10, 12th August 1993 — Group 4 swaps work with Mayne

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Keywords : Security, Swaps, Cash-in-transit, Security Guard, Public Safety, Business / Finance

• Group 4 has sold its 300-strong fleet of armoured delivery vans to Australian transport and security firm Mayne Nickless.

The deal is a virtual swap, with Group 4 receiving the Australian company's security guard business in return for its Cash in Transit operation.

Delivery drivers are expected to keep their jobs. Mayne Nickless UK executive chairman John Williams says: "There is still cash to be collected so I see no reason for wholesale layoffs."

Group 4 swaps work with Mayne

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