Money conveyor Brink’s detached from American parent company – Financieele Dagblad (Registration)

Money conveyor Brink's detached from American parent company – Financieele Dagblad (Registration)

Money Transporter Netherlands Brink’s continues on an independent base. The US parent company wanted no more money stabbing in the company, the Dutch management has subsequently agreed that the company is detached.

That made Brink’s Netherlands on Wednesday. The company, a household name on the Dutch roads and shopping areas, is housed in a foundation and will continue downsized.

Hard remediation

Earlier this year, Brink’s made a drastic reorganization known which of the more than six hundred thousand jobs be lost. The remediation is necessary due to the loss of the largest customer, Rabobank. The bank has decided to use from next year of service of Money Service Netherlands (GSN), which together with ABN Amro and ING is designed to make the cash handling and logistics more efficient.

The US parent company, The Brink’s Company, late in a statement that the loss of Rabobank and the customer a reason to completely cease its activities in the

Netherlands. The subsidiary is to ‘face value’ sold to the Continuity Foundation Brink’s Netherlands. For the restructuring and the sale take the Americans a provision of $ 20 million to $ 25 million.

Viable

According to CEO Ad Wijnhoven Brink’s Netherlands is the viability of the Dutch company with greater independence. In a statement, the company says it has a healthy balance sheet.

Includes sales from Rabobank of service involved a considerable profitable business. Brink’s net profit of the Netherlands, according to the parent company this year to $ 10 million on revenues of $ 130 million.

Brink’s Netherlands said in a statement that the profit can be used for a social plan for employees who have left the company. Before that, under the wing of The Brink’s Company but limited money available.