Gunnebo Opens Sales Company in Malaysia

Regulatory News:

The Gunnebo Security Group’s (STO:GUNN) new sales company in Malaysia became operational on October 1, 2012.

"Malaysia is one of the fastest growing markets in Asia when it comes to security, especially physical security,” says Gunnebo’s President and CEO, Per Borgvall. "To establish a sales company in Malaysia is very much in line with our strategy to boost growth and continue to shift the point of gravity of our business outside Europe. We expect that growth within Gunnebo’s core businesses of bank security, cash handling and secure storage will grow substantially in Malaysia in the years to come.”

Gunnebo has been present on the Malaysian security market for many years through a joint venture which was divested earlier in 2012. Gunnebo Malaysia employs 28 people and is expected to have annual sales of around 5 MEUR. The business will be organised under Gunnebo’s Asia-Pacific region.

The Gunnebo Security Group provides efficient and innovative security solutions to customers around the globe. It employs 5 800 people in 31 countries across Europe, Asia, Africa, Australia and Americas, and has a turnover in excess of €580m. Gunnebo focuses its global offering on Bank Security & Cash Handling, Secure Storage, Global Services and Entrance Control.

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