SOLNA, Sweden--(BUSINESS WIRE)--Regulatory News:
Loomis (STO:LOOMB) Danish subsidiary, Loomis Danmark A/S, has lost a legal dispute in Denmark, with one of Denmark's major retail chains. The legal dispute concerns the right to terminate a supply contract. The dispute has been on-going since early 2008 when Loomis terminated the supply contract due to non-payments from the customer.
The total cost for Loomis, including Loomis share of the legal expenses, are estimated to approximately SEK 20 million and will be charged to Loomis income statement during the third quarter of 2012.
2.10.2012
Loomis offers safe and effective comprehensive solutions for the distribution, handling and recycling of cash for banks, retailers and other commercial companies via an international network consisting of almost 400 branch offices in 16 countries. Loomis has 20 000 employees and annual revenue of 11 billion Swedish kronor. Loomis is a midcap listed company on NASDAQ OMX Stockholm. Loomis AB discloses the information provided herein pursuant to the Swedish Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 8.00 a.m. (CET) on October 2nd, 2012.
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