STRATEGIC PARTNERS
February 17, 2002
HOUSTON -- Loomis, Fargo & Co., one of the nation's largest cash-in-transit companies, has entered into a strategic alliance with Glory (U.S.A.) Inc., through which Glory will provide Loomis, Fargo & Co. with cash vault processing software designed to operate in a multi- bank/retail environment. Glory (USA) is a subsidiary of Japan-based Glory Ltd., a provider of cash dispensing technology.
The software was created through a partnership arrangement between the two companies and is designed to deliver greater efficiency, improve data integrity and expand reporting capability to customers. Additionally, the Glory Comp-U-Order system, which is an automated change ordering system, will be added to complete the company's vault automation.
Loomis, Fargo & Co. has already expanded capability in 16 cash vaults nationally, with 21 additional vaults scheduled shortly.
"We are extremely excited about our new technology from Glory, and our enhanced ability to provide outsourced cash vault operations for banks and larger commercial enterprises," said Loomis, Fargo & Co. CEO and President Jim Mattly.
