Loomis to restructure its US operation: Jarl Dahlfors named new country president

Loomis to restructure its US operation: Jarl Dahlfors named new country
president

Jarl Dahlfors, chief financial officer of cash handling company Loomis, will
become president of the company's US subsidiary on July 1, 2009. The company is
currently in the process of recruiting his successor. Jarl Dahlfors will replace
Cal Murri who is retiring after 36 years with Loomis. To insure a smooth
transition, Cal will remain responsible for the Loomis US operations until June
30, 2009.

Effective today Loomis is also restructuring its US organization by eliminating
its Regional tier of management. At the same time the current Area management
will be consolidated into twelve districts.


These districts, each of which will include 12 to 16 branches, will create a
flatter organization that will focus accountability for performance more
directly at the day to day field operations level. The district managers will
report directly to the president of the US subsidiary.  

US operations grew in 2008 with increased revenues and organic growth of 6
percent. However, profitability remained below expectation as the result of an
unacceptable number of poor performing branches and high levels of staff
turnover. A number of cost-saving and productivity measures were implemented in
2008 and more improvements are expected in 2009, driven in part through this
restructuring."Our aim is to achieve an operating margin of at least 8 percent throughout the
whole Group by 2010 at the latest. Our European operations achieved this target
in 2008, but the operating margin in the US remained at 5 percent, which must
continue to improve", said Loomis CEO Lars Blecko."By creating a flatter organisation and giving the twelve district managers and
their 170 branch managers clear responsibility for results, we expect to foster
a more pro-active commitment to the bottom line", said Blecko. "We are also
working hard to enable comparison between branches, not just within the US but
throughout the Group as a whole”."During his 36 years with Loomis, including the past three years as US Country
President, Cal Murri has built up a company with a strong market position,
reorganized the US to reduce cost, standardized operating processes to improve
efficiency and developed a highly skilled workforce”.  

“With Cal's announcement to retire and a need for continued focus on improving
our margins, Jarl Dahlfors is the right person to take the US subsidiary
forward. Jarl has lived and worked in the US previously and is excited to be
moving to Houston where our US head office is situated. Over the past few years
he has developed the Group's financial monitoring system and has played a major
role in improving results in Europe", said Lars Blecko.

Loomis' US subsidiary has around 7,700 employees and generated sales of around 4
billion Swedish kronor in 2008.

For more information, contact:
Lars Blecko, Chief Executive Officer
+46 70 641 49 10

Loomis offers safe and effective solutions for the distribution, handling and
recycling of cash for banks, retailers and other commercial companies via an
international network consisting of more than 370 centres of operation in 12
European countries and in the US. Loomis has 20 000 employees and a turnover of
11 billion Swedish kronor. Loomis is a mid-cap listed company on NASDAQ OMX
Stockholm.