G4S group to spend HUF 1 bln a year on developments
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.
ADVERTISEMENT
Banking Assoc Delivers Negative Assessment of Gov't Measures
Parl't Approves Amendments to Legislation on Judiciary
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
