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G4S group to spend HUF 1 bln a year on developments

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The Hungarian units of the multinational security group G4S plan to spend HUF 1 bln a year on developments in the coming period from projected annual revenue of more than HUF 20 bln, the group told Hungarian news agency MTI yesterday.

G4S was founded in 2004 by the merger of U.K.-based Securicor plc. with Denmark-based Group 4 Falck.

The first Hungarian unit, G4S Készpénzlogisztikai began operations in 1990 under the name Group4-Hungária Biztonsági Szolgáltató. In the mid-90s, following the buyout of the state-owned stake, they operated as an international security company under the name Group 4 Securitas, providing services to multinational companies in Hungary. With the purchase of 100% of the shares of Bank Security from OTP Bank in 1998, Group 4 Securitas became the largest security company in the region including Hungary, the statement said.

The other Hungarian units are G4S Biztonságtechnikai, G4S Biztonsági Szolgáltatások and G4S Holding.

The four companies had combined revenue of HUF 22.9 bln in 2014 and currently employ 2,400. They provide services to almost 25,000 retail and corporate customers.

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