After years of financial difficulties, Swiss Post sells its valuables transport business. A series of robberies is also one of the triggers for the decision.
Swiss Post sells SecurePost.
The specialist in transporting valuables is struggling with financial difficulties.
In addition, there are repeated attacks on money transports.
A Swiss company takes over all employees.
Swiss Post announced on Tuesday that it was selling its subsidiary SecurePost. The company transports money and valuables for the post office as well as banks and other companies. The company has been under economic pressure for several years, according to a statement from Swiss Post.
It is true that the situation has been stabilized. But lately there have been several robberies on various money transporters, which again caused difficulties for the company. Swiss Post blames the incidents on “new regulatory and insurance requirements”. In addition to these problems, there would also be negative effects of the coronavirus crisis.
On May 1st, Loomis Switzerland will take over SecurePost. It is a different Swiss provider of value transports. In contrast to the Post, Loomis is able to operate efficiently under the difficult conditions that made the raids possible. This will ensure the supply of cash in Switzerland in the future as well.
The new owner will take over all 450 employees. How much Loomis the Post pays for the subsidiary is not known – it was agreed not to disclose.
SecurePost has been handling the transport of valuable goods for the post office and other companies since 2003. Up until now it was a wholly-owned subsidiary of the Post. The company also operates ATMs, among other things. She supports Postfinance with this provision of cash – but SecurePost itself does not have a federal service mandate. According to Swiss Post, the subsidiary is one of the largest value transport logistics companies on the Swiss market.