Archive: December 2003
Axcess restructures debt
December 25, 2003SSN Staff
December 25, 2003
DALLAS - RFID and digital solutions provider Axcess International has completed a financial restructuring plan that lowers interest and dividend payments on outstanding debt.
The plan, which reduces the amount of debt and preferred stock on the company’s balance sheet, took about six months to implement, according to Allan Frank, vice president and chief financial officer of Axcess.
One financial improvement for the company involves reducing the total corporate debt by...
Nation placed on "orange" alert; borders and airports increase security
December 25, 2003SSN Staff
December 25, 2003 WASHINGTON - The nation's airports, border crossings and ports are on high alert this holiday season, with the terror attack warning moving to the second-highest level this week. According to published reports, government officials have gathered intelligence showing that al-Qaida once again plans to use airplanes as weapons. This time, the target could be cargo planes or airplanes originating in other countries where security is not as tight as in the United States. Of the cities...
Protectron expands British Columbia presence
December 25, 2003SSN Staff
December 25, 2003
MONTREAL - Protectron Inc. has strengthened its presence in the British Columbia market, announcing late last week its acquisition of Valley Alarms and its 4,000 customers.
“Valley Alarm’s 4,000 subscribers, combined with Protectron Inc.’s existing customers, bring the number of subscribers in British Columbia to over 24,000,†said Daniel Demers, president and chief executive officer of Protectron.
Terms of the...
Allied Security picks up regional guard company
December 25, 2003SSN Staff
December 25, 2003
KING OF PRUSSIA, Pa. - Allied Security has expanded its presence in the east and south with its acquisition of regional and privately-owned guard company Professional Security Bureau Ltd.
Professional Security provides contract security services in eight states, from Massachusetts to Florida. As part of the acquisition, it will become part of Allied Security’s network of 60 offices that cover 250 cities nationwide.
Though terms of the agreement were not disclosed,...
PSI is the latest scooped up by IASG
December 18, 2003Chelsie Woods
December 18, 2003
RANCHO CUCAMONGA, Calif. - Protection Service Industries gained a new owner this week, a year after word first surfaced that the residential and systems integration firm was for sale.
The winning bidder was Integrated Alarm Services Group, which owns the likes of wholesale monitoring company Criticom International, a financing arm and a Long Island, N.Y., installation firm Payne Security, to name a few.
IASG paid $46 million for PSI, which is reported to have the equivalent...
Central station manager’s trial delayed
December 18, 2003Derek Rice
December 18, 2003
SALT LAKE CITY - Those in the industry who had marked Dec. 17 on their calendars as the date of the trial of Jeff Howe, central station manager for Peak Alarm, will have to wait another four months for any resolution.
According to Shanna Werner, who heads the Salt Lake City Police Department’s alarm division, the case has been continued until April, per the city prosecutor’s request. She said no specific date was available at this time, but...
Port of Houston awards two security contracts
December 18, 2003SSN Staff
December 18, 2003
HOUSTON - At its meeting held Monday, Dec. 15, the Port of Houston Authority approved a number of recommendations and contract awards, including two related to security systems at the port.
TRC-Ecom Capital has been awarded a three-year, $12 million contract to enhance security infrastructure at the port. Under the terms of the contract, TRC-Econ is expected to prepare a security master plan and implement the design and construction of fences, CCTV systems, facility access controls...
Viisage garners contract extension
December 18, 2003SSN Staff
December 18, 2003
LITTLETON, Mass. - Identity solutions company Viisage will continue to provide the New York State Department of Social Services with secure identification cards through 2004.
The $1.6 million project includes two sites in New York and a backup system at Viisage for data replication. Viisage is acting as a subcontractor for GTECH Corp., which has worked with the NYSDSS as part of a nine-year contract, which is now coming to a close.
Through the NYSDSS program, Viisage has produced...
Lawmakers debate dueling security tax breaks
December 11, 2003Andrea Gura
December 11, 2003
WASHINGTON - With the end of the 2003 legislative session just days away, lawmakers are considering a recently introduced bill that would grant businesses tax breaks for buying security equipment, the second such bill to be unveiled this year.
Introduced in late November by Rep. Bill Shuster of Pennsylvania, HR 3562 would grant businesses tax credits for purchasing security equipment as well as security services, such as a threat or risk assessment and the development of other...
Security firm nailed in federal No-Call list
December 11, 2003Andrea Gura
December 11, 2003
COLUMBUS, Ohio - A security installation firm here was called the state's "largest abuser" of the new federal no call laws and slapped with a $1.3 million lawsuit by the state's attorney general after numerous consumers complained about the company's telemarketing, state officials said.
Attorney General Jim Petro on Tuesday filed the case against Shelterguard Systems, accusing the security company of engaging in unlawful telemarketing practices, mainly calling consumers who...