CHICAGO, May 4 /PRNewswire/ -- Borg-Warner Security Corporation
(NYSE: BOR), North America's largest provider of physical security services,
today announced plans to unify its security services under a single brand name
-- Burns International Security Services. The company also announced its
intent to change its parent company name from Borg-Warner Security Corporation
to Burns International Services Corporation.
Well-recognized for both its Burns International Security Services and
Wells Fargo Guard Services brands, the unification will better position the
company as a provider of total security solutions for an expanding base of
national and international clients.
John Edwardson, president and chief executive officer said, "Today's
announcement marks the conclusion of the repositioning of the company
initiated in 1995 and represents a significant milestone in our corporate
history. Operating under a single brand umbrella enables us to move forward
in a number of areas, including the expansion of best practices throughout
operations to ensure consistent quality delivery of services to our clients;
increased investment levels in training and technology; improved delivery of
services to national accounts; and expansion of our security solutions
approach throughout our organization. The transition to the Burns
International name will occur over the next several months and is intended to
be seamless for customers and employees."
Edwardson further stated, "The benefits of brand unification under the
Burns International umbrella will eliminate existing market confusion with
Wells Fargo & Company and with Borg-Warner Automotive, Inc., both highly
respected names in their industries.
The Burns name has a strong legacy in the security business, dating back
to 1909 when the William J. Burns International Detective Agency was
established in Chicago, Illinois. The company's founder, William Burns, has
been described as the world's finest detective, and served as the head of the
government agency that became the Federal Bureau of Investigation. This
heritage, a strong international reputation and the fact that 60% of the
company's current revenues are generated under the Burns brand were
significant factors in choosing the Burns name."
In connection with this announcement, the company has entered into an
agreement with Wells Fargo & Company to discontinue using the "Wells Fargo"
name over a two-year period. In addition, the company said it will seek
shareholder approval to change its corporate name from Borg-Warner Security
Corporation to Burns International Services Corporation before September 30,
1999.
Borg-Warner Security Corporation is North America's largest provider of
physical security and related services with 73,000 employees and more than 300
offices throughout the United States, Canada, the United Kingdom and Colombia.
The company offers a complete range of security solutions including armed and
unarmed physical security, foot and vehicle patrol, access control and
monitoring, background and drug screening, investigative services, contract
staffing, and other specialized security services.
For a copy of this press release or for additional information on the
company, contact the company's web site at http://www.Borg-WarnerSecurity.com or
http://www.prnewswire.com.
SOURCE Borg-Warner Security Corporation
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Related links:
http://www.Borg-WarnerSecurity.com
Company News On-Call:
http://www.prnewswire.com/comp/120940.html or fax,
800-758-5804, ext. 120940
CONTACT:
Analyst, Jeff Cartwright, 312-322-8836, or
Media, Lynne Glovka, 312-322-8511, both of Borg-Warner Security
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