31st Aug 2005 10:00
31 August 2005 GROUP 4 SECURICOR PLC Sale of Cognisa Security, Inc. Security Contracts Group 4 Securicor plc, the international security solutions group, announcesthat it has sold the security contracts and related assets of Cognisa Security,Inc. ("Cognisa") to US Security Associates, Inc. ("USA") for approximately $30million with a further amount up to $10 million to be paid in 12 months time.The contracts being sold represent annual revenues of approximately $100million.Cognisa has faced challenging trading conditions since the federalisation ofthe aviation security industry in 2002. The business has exited a number ofaviation-related contracts and, whilst it has been successful in growing itstransportation business, growth in the commercial guarding sector has beenslow. This has meant that the business has remained sub-scale in relation toits operating costs and the management has continuously reviewed the tradingposition. USA will be able to integrate the contracts into its existingorganisation and infrastructure and will be able to achieve cost synergieswhilst growing annual revenues to over $500 million.The Cognisa transportation business, which has annual revenues of approximately$20 million, will be retained by Group 4 Securicor along with the Cognisa brandname and will be managed as a separate business unit, based in Atlanta,Georgia.For further enquiries, please contact:Nick Buckles +44 (0)1293 554400Trevor DightonDebbie McGrathMedia Enquiries:Patrick Toyne-Sewell +44(0)7973 672649Sarah GestetnerNotes to Editors:Group 4 Securicor operates in over 100 countries throughout the world andemploys over 360,000 people. It is a market leader in the provision of mannedsecurity, security systems and cash services in many of the countries in whichit operates. For more information on Group 4 Securicor please visit www.group4securicor.com.ENDGROUP 4 SECURICOR PLCRelated Shares:
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