| Brinks to sell its event security operations to Groupe Ageparfi and cash handling business to Impel Security Polska |
The Brink's Company, a global leader in secure logistics, announced that it has agreed to sell its event security operations in France to Groupe Ageparfi, and its cash handling business in Poland to Impel Security Polska. Both transactions are expected to be completed in the first quarter of 2013.
Brink's will continue to operate its airport security business in France. The company also will continue to operate in Poland through its Global Services unit.
Tom Schievelbein, chairman, president and chief executive officer of Brink's, said: "Our strategy is to maximise profits in developed markets while investing in growth opportunities in emerging markets and high-value solutions. These divestitures are the result of an ongoing portfolio review, which is aimed at reshaping our European footprint by reducing our presence in markets that are unlikely to achieve an acceptable return."
In 2011, the businesses to be divested had combined revenues of approximately $45 million and an operating loss of about $3 million. Brink's employs approximately 1,100 people at the two businesses.