Archive: January 2004
Residential security market relies on innovation to maintain edge
January 29, 2004SSN Staff
January 29, 2004
PALO ALTO, Calif. - Despite an economic slump, the residential security market is experiencing a fair amount of growth buoyed by a healthy new construction market, increased security consciousness, and the declining cost for security.
New analysis from Frost & Sullivan on the U.S. Residential End-User Security Market shows that this market generated revenues worth $1.72 billion in 2002 and is expected to reach $3.21 billion by 2009.
The report talks about the competitive residential...
Safety Act offers security firms legal protection
January 29, 2004Chelsie Woods
January 29, 2004
WASHINGTON - A little-known law called the Safety Act that can protect manufacturers and systems integrators of homeland security products from potential lawsuits is just now getting underway.
The Department of Homeland Security has begun accepting applications from manufacturers and systems integrators who want protection under what is considered landmark legislation. Approved as part of the Homeland Security Act in November of 2002, the Safety Act, or Support Anti-Terrorism...
Viisage completes acquisition, wins federal contract
January 29, 2004SSN Staff
January 29, 2004
LITTLETON, Mass. - Viisage has finalized its purchase of ZN Vision Technologies AG and won a contract with the United States Department of State to provide facial-recognition technology to be used in the department’s Diversity Visa Program.
Terms of the contract were not announced.
The ZN Vision acquisition, announced late last year, was finalized on Jan. 23, when Viisage shareholders approved the issuance of more than five million new shares of Viisage common stock to...
VRI exits security business
January 29, 2004Derek Rice
January 29, 2004
SPRINGBORO, Ohio - Valued Relationships Inc., a provider of medical response monitoring, has sold its security division to Alarm Capital Alliance, a specialty security lender based in Woodlyn, Penn.
According to Darren Torrence of VRI, the company shed its just under 300 security accounts to focus on its medical monitoring business. He said VRI’s employees in the Springboro headquarters will not be affected by the sale, which had been in the works for several months.
Torrence...
Chubb acquisition helps boost UTC earnings
January 22, 2004SSN Staff
January 22 , 2004
HARTFORD, Conn. - Aided by gains from its Chubb Plc business, United Technologies Corp. saw its fourth-quarter 2003 revenues rise 19 percent over the same period in 2002.
In addition to its fourth-quarter gains, UTC’s year-end revenues for 2003 were up 10 percent over 2002 year-end numbers.
UTC reported fourth-quarter revenues of $8.6 billion, compared to $7.2 billion in 2002. The company’s 2003 year-end revenues were $31 billion, compared to $28.1 billion in 2002.
According...
CSAA, AICC to push licensing reciprocity legislation
January 22, 2004Derek Rice
January 22 , 2004
VIENNA, Va. - The Central Station Alarm Association and the Alarm Industry Communications Committee are lobbying Congress to pass a bill that would eliminate monitoring companies’ need to earn licenses in multiple states.
If passed, the Alarm Monitoring Licensing Standards and Reciprocity Act of 2004 would allow monitoring companies and their employees to meet federally defined minimum standards for licensure in their home states and then have those licenses...
Tyco safety division sees more layoffs
January 22, 2004Andrea Gura
January 22 , 2004
WESTMINSTER, Mass. - Manufacturing and administrative personnel at a Tyco Fire & Security location here will be cut by about 75 jobs by Friday, reductions that stem from a corporate edict issued last fall to slash more than 5,000 jobs.
Announced late last week, the job cuts here will only affect less than about eight percent of the 986 employees working at the Tyco Safety Products plant here, a manufacturing arm of Tyco Fire & Security, according to Chris Woodcock, director,...
Stanley Works continues path into security
January 22, 2004SSN Staff
January 22 , 2004
NEW BRITAIN, Conn. - Continuing on its path to build a significant presence in the security market, toolmaker Stanley Works said on Tuesday that it would acquire Canadian integrator Frisco Bay Industries for $45.3 million, or $15.25 cash per share.
The acquisition of the St. Laurent, Quebec-based company is Stanley Works' third security-related acquisition, following the company's recent offer for British security systems manufacturer Blick and a 2002 acquisition of Best Access...
Advantor wraps up contract with Air Force
January 15, 2004SSN Staff
January 15 , 2004
ORLANDO, Fla. - A high-end systems integration firm based here has landed a contract to outfit all U.S. Air Force Reserve Command Facilities with upgraded security, a contract that will encompass work on 13 different bases across the country.
Advantor Systems Corporation will provide design, integration, installation and sustainability services to each base and upgrade each intrusion detection and monitoring system to Advantor's ASN 4.0 platform. That system is one of two that...
Graybar pumps up security product offering
January 15, 2004Chelsie Woods
January 15 , 2004
ST. LOUIS - Electrical and communication product supply house Graybar has entered the security distribution market, adding surveillance cameras, access control and notification devices to its portfolio of products.
Company officials said the addition follows the needs of its customers, the electrical and communication contractors, who are installing security products as part of their projects.
It also marks a concerted effort by Graybar to provide security-related products....