Securitas Buys Stake in Vietnamese Security Service Provider

Following its strategy to expand in Asia, Securitas acquired 49 percent of Vietnamese security services company Long Hai Security for about US$4.9 million.

Long Hai Security has annual sales of approximately $7.4 million and about 2,500 employees. The company is a market leader in the Vietnamese security services market and operates throughout Vietnam, with its largest branches being in Ho Chi Minh City and Hanoi.

Long Hai Security provides mainly guarding services, but has also operations protecting its customers' property in secure cash transportation, executive protection and alarm monitoring services.

Long Hai Security is consolidated in Securitas as of Jan. 1, 2010.