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Stock Market & Financial Investment News

News Breaks
February 1, 2013
06:05 EDTBCOBrink's to divest cash-in-transit operations in Germany
The company announced its intent to divest its cash-in-transit operations in Germany, and that it has completed the divestitures of guarding operations in France and Morocco. The divestiture of its CIT business in Poland is expected to be completed by March 31.
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October 17, 2014
12:46 EDTBCOBrink's to restructure Netherlands operations, could cut approximately 600 jobs
The Brink's Company announced its plan to restructure its Netherlands operations in response to a loss of business with Rabobank, its largest customer in that country. Brink's expects to incur a charge of $16M-$22M against Q3 GAAP earnings. The expected charge is related to asset impairments, severance and other costs associated with the expected cessation of service to Rabobank on July 1, 2015. The restructuring plan includes the potential closure of three branches and a workforce reduction of approximately 600 employees. The potential loss of business in the Netherlands was considered prior to the company's July 24 disclosure of its goal to achieve a non-GAAP segment margin rate of 8% by the end of 2016, and the goal remains unchanged.

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