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Securicor divisions for sale
Page 5
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• Securicor Is to sell off its express and logistics divisions to concentrate on its cash and security businesses. The move confirms months of press speculation, Divisions included in the sale are Securicor Omega Express, Securicor Omega Logistics, Omega Container Logistics and Securicor FuelServ; between them they r employ 12,000 people.
The move was made public by Securicor chief executive Nick Buckles, who says the group is looking for a buyer for its 50% stake in the distribution arm of the company, which it owns jointly with Deutsche Post. He believes Deutsche Post is an obvious buyer for the Securicor stake, which is said to be worth 1100m.
Pro-tax operating profits from Securicor's 50% stake In the express and logistics businesses were £7.1m In 2001/02; its share of turnover was £347.5m. Turnover is believed to be split 50/50 between the express and logistics businesses.
A spokeswoman for the group says no date has been set for any sale; she declines to comment on how such as sale might affect Securicor's subcontractors.