You never hear any security related news coming out of Vietnam, so when this came across my screen, I thought this would be cool to add to the archive. Long Hai Security sounds like a pretty big group in Vietnam and hopefully the transition is smooth.
Most of the time, these companies really don’t change much in the transition, unless there are blatant deficiencies. Stuff that needs to be addressed in order to make the newly purchased company profitable and sound. Other than that, I really don’t have much more to add, and hopefully some readers can chime in about the market there. –Matt
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Securitas enters the security services market in Vietnam
December 29, 2009
Following the strategy to expand in Asia, Securitas has agreed to acquire 49 percent of the Vietnamese security services company Long Hai Security. Purchase price is approximately MSEK 35 (MVND 88,000).
Long Hai Security has annual sales of approximately MSEK 53 (MVND 134,000) and approximately 2,500 employees. The company is the market leader in the Vietnamese security services market and operates throughout Vietnam, with its largest branches being in Ho Chi Minh City and Hanoi.
Long Hai Security provides mainly guarding services, but has also operations protecting its customers’ property in secure cash transportation, executive protection and alarm monitoring services.
Long Hai Security is consolidated in Securitas AB as of January 1, 2010.
This press release is also available at: www.securitas.com
Securitas is a knowledge leader in security. By focusing on providing security solutions to fit each customer’s needs, Securitas has achieved sustainable growth and profitability in 40 countries in North America, Europe, Latin America, Asia, Middle East and Africa. Everywhere from small stores to airports, our 240,000 employees are making a difference.
Securitas AB discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 09.00 (CET) on December 29, 2009.
Contacts
Securitas ABGisela LindstrandSenior Vice President Corporate Communications and Public Affairsphone +46 10 470 3011mobile +46 70 287 8662
Story here.