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Loomis wins a great cash management contract in the U.S.

Monday, 08 April 2013
Cash Management Company, Loomis said its US subsidiary, Loomis' U.S. has won a contract from one of the largest banks in the U.S. to take over the cash management services at four locations, including two of the bank’s major units in Houston and San Diego.

In a press release, the company said that the appointment means that the bank branches’ cash will be processed in Loomis’ branches instead of at the banks' vaults, and will commence in the coming months.

The annual order value is approximately USD 7 million annually and about USD 3 million in 2013.

“The agreement is fully in line with our global efforts to increase the share of CMS in our customer offer. This is particularly important in the U.S. where the CMS share is smaller than in Europe. CMS entails offering comprehensive solutions by managing customers’ total cash management, including CIT which merely involves transport of cash”, says Loomis' CEO Lars Blecko in a press release.
Scancomark.com Team

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