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| [November 23, 2009] |
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Safeguard Business Unit Announces Additional Services with Utility Company
DALLAS --(Business Wire)--
Safeguard Security Holdings, Inc. (OTC:SSHS), a provider of corporate, industrial and residential security solutions, announces today that its SYSTEMSgroup Protective Services unit will expand security services with commissioned (armed) security officers to its largest utility client at certain sites.
The expansion of services are deemed necessary by Homeland Security as designated power plant sites served by SYSTEMSgroup's existing $32 million contract are designated as "critical infrastructure" and commissioned coverage is required. Throughout the past year, the utility giant continues to exercise additional security coverage, at its option, under the existing contract. SYSTEMSgroup Protective Services provides the add-on services on an "as needed" basis. These additional services have added a significant amount of profitable revenue throughout the year and have increased the existing contract value in excess of $1 million annual.
R. Michael Lagow, CEO for Safeguard stated, "We're pleased to continue expanding our operations with one of our largest clients. To date, we have exceeded our overall growth expectations for 2009, and we anticipate that 2010 will continue to show significant growth in all of our business units."
About Safeguard: (www.safeguardsecurityholdings.com)
Safeguard is a fully integrated sole-source security solutions provider offering a converged suite of physical and electronic services through its operating subsidiaries. It provides corporate and government clients with a wide range of security services ranging from highly trained armed and unarmed guards, security management staffing, and security staff outsourcing, to installation and maintenance of integrated electronic security solutions, background investigations, and specialized consulting services as may be required to support the varying security needs of its clients. The Company is organized along three distinct lines of business - Technical Systems, Security Personnel and Security Outsourcing Solutions. Its operations are directed from its offices in Dallas, Texas.
Forward-Looking Statements:
Statements which are not historical facts contained in this release are forward-looking statements, such as "immediately accretive" that involve risks and uncertainties, including but not limited to, the effect of economic conditions, the impact of competition, the results of financing efforts, changes in consumers' preferences and trends. The words "estimate," "possible," and "seeking" and similar expressions identify forward-looking statements, which speak only to the date the statement was made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, because of new information, future events, or otherwise. Future events and actual results may differ materially from those set forth herein, contemplated by, or underlying the forward-looking statements.
© 2009 Safeguard Security Holdings, Inc. The information herein is subject to change without notice. Safeguard shall not be liable for technical or editorial errors or omissions contained herein.
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