STRATEGIC PARTNERS
January 13, 2002
TORONTO - Armored car drivers and cash carriers on strike at the Toronto branch of Securicor Cash Services may impact service levels at Automated Banking Machines (ABMs) in Toronto.
Securicor services about 20 percent of the ABMs in Toronto. ABMs affected by the strike include those for Canada Trust and Toronto Dominion Bank, according to The Toronto Star.
The 400 employees of the Toronto branch, represented by the Teamsters Union, went on strike Sunday after negotiations between the company and union broke down Saturday.
According to Securicor, the company has a contingency plan in place, using management teams, to replenish Securicor-serviced ABMs with cash. However, Securicor executives fear the strike could have a larger impact on the company's ability to provide cash transportation services for its commercial and retail customers.
Securicor Cash Services entered the Canadian market in April 2000, with the acquisition of Loomis Armored Car Services from Australian-based Mayne Nickless. The company has annual revenues of $124 million (Canadian dollars) and employs more than 3,100 people. Securicor Cash Services is a wholly owned subsidiary of Securicor PLC of Sutton, England.
