Loomis makes acquisition in Turkey

Loomis makes acquisition in Turkey

Loomis AB has acquired 60 percent of the Turkish cash handling company,
Erk Armored, which has approximately 220 employees and approximately 80
vehicles. With 15 branches, Erk Armored covers large parts of Turkey and
has annual revenue of approximately MSEK 60. As part of the acquisition
Loomis has, in the future, the possibility to acquire the remaining 40
percent of the company.

Erk Armored are mainly involved in cash transportation services, which
includes ATM services, but also transports gold and diamonds for
international customers. The company's strongest market is western
Turkey, mainly the region around Istanbul.

“The Turkish market for cash handling has great development potential as
the level of outsourcing among banks is rather low and many of them have
their own cash handling organizations. The acquisition of Erk Armored
gives us a foothold in an exciting growth market where we have a great
opportunity to grow both organically and through further acquisitions,”
states Loomis President and CEO Lars Blecko.

Erk Armored is expected to have a positive effect on Loomis' earnings
already in 2011.

The acquired operation will be consolidated by Loomis from July 1, 2011.

Earlier this year Loomis announced the acquisition of the cash handling
operations from the American company Pendum, comprising 1,500 employees
and annual revenue of approximately MUSD 100.

11.05.2011

Lars Blecko
President and CEO
Mobile: +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
branch offices in 14 European countries and in the US. Loomis has 20,000
employees and a turnover of 11 billion Swedish kronor. Loomis is a
midcap listed company on NASDAQ OMX Stockholm.

Loomis AB discloses the information provided herein pursuant to the
Swedish Securities Market Act and/or the Financial Instruments Trading
Act. The information was submitted for publication at 01.45 p.m (CET) on
May 11, 2011.