Securicor to merge with Danish rival

Securicor PLC, unveiled a nil-premium merger with the world's number 2 security services company, Denmark's Group 4 Falck A/S, this morning.

The 70-year-old company said it has made a good start to 2004, and organic growth is currently running at a rate of 5% year-on- year and margins are improving.

Its security division transports cash and valuables, provides guards, runs prisons, and supplies temporary and permanent staffing.

Its cash services business is progressing well, with strong performances in key markets such as the Netherlands and the Britain.

Securicor recently sold its 50% interest in distribution unit Securicor Omega to Deutsche Post.

The company also said that the security division has shown satisfactory progress, with the US business achieving break-even and improved profitability in Europe.