HOUSTON -- Effective Feb. 1, Loomis, Fargo & Co., one of the nation's largest cash-in-transit service companies, instituted a fuel fee that increased overall transportation-related prices approximately 2.5 percent.
"Throughout 1999, the cost of fuel has consistently and dramatically increased, rising recently to a 10-year high with no relief in sight," said James B. Mattly, CEO and president of Loomis, Fargo & Co. "Realizing the adverse impact to our customers and believing the situation would stabilize, we chose to absorb these cost increases rather than pass them along. However, like other transportation companies, we simply cannot continue to do this."
Loomis, Fargo & Co. provides armored car, ATM and cash management services through a national distribution network with over 200 service centers in the U.S. and Puerto Rico.
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