As the economic downturn reverberates, a number of newcomers managed to beat the odds. A&S finds out how these smaller players gained ground against more established names.
As the economic downturn reverberates, a number of newcomers managed to beat the odds. A&S finds out how these smaller players gained ground against more established names.
The global financial crisis hit security hard, with a number of manufacturers reporting falling sales after years of growth. However, some makers landed on their feet and grew. Smaller makers increased market share with competitive offerings, while larger companies saw profits shrink.
Established brands were among the hardest hit. Niscayah, formerly known as Securitas, implemented an efficiency enhancement program to save about US$24.8 million in 2011. The company plans to strengthen its competitiveness by laying off 350 staf...