Frankfurt/Main, Germany (ots)
- Responding to the events of
September 2001 and the aviation market's demand for increased safety
and security measures, Fraport AG and ICTS announce that they have
started negotiations for Fraport to acquire the remaining 55 percent
of ICTS Europe's shares. Earlier this year, Fraport had already
purchased 45 percent of ICTS' shares.
This move will give Fraport a platform for providing aviation
security services as an integral part of its overall airport
management services. Fraport will thus become market leader in
Europe. It will also allow ICTS to focus on its U.S. aviation
security operations and introduce enhanced technologies to the
aviation security market at large. The deal is expected to be signed
next month and to go into effect on January 1, 2002.
Fraport and ICTS intend to cooperate in developing and introducing
technologies to the aviation security market.
Johannes Endler, CFO of Fraport, said: "We are on the move to
become Europe's largest provider of airport security and to react to
the customers' needs as fast as possible."
Lior Zouker, President and CEO of ICTS, commented: "The completion
of the sale of our European operations to Fraport and extension of
our technological cooperation with Fraport will enable us to play a
major role as a supplier of technological solutions to the aviation
ots Original Text Service: Fraport AG
For More Information, Please Contact:
Fraport AG Frankfurt Airport Services Worldwide
Attn: Robert A. Payne - Manager International Press
60547 Frankfurt am Main, Germany
Tel.: +49 69 690 -78547 (with voice mailbox)
Fax: +49 69 690 -60548
(click on "Press Lounge")
Original-Content von: Fraport AG, übermittelt durch news aktuell