Loomis' Norwegian subsidiary has been appointed by DNB, the largest bank in Norway, to take over all their cash handling services in the country.
This includes transportation of cash (CIT), cash processing (CMS) and the responsibility for managing 880 machines, including more than 300 ATMs.
The agreement is covering a period of three years, with an option for DNB to extend the agreement for additional two years. The total annual value of the agreement is estimated to be more than MNOK 100 and is the biggest single new contract signed since the IPO in 2008. The contract is valid from September 1, 2013.
"The appointment by DNB proves that our strategic emphasis on innovation, IT and delivering high quality services is highly appreciated by the market. This agreement, which is strategically important to Loomis, will put us in position as the market leader in Norway", says Lars Blecko, President and CEO.