USG People sells its General Staffing activities in Spain, Italy, Austria, Switzerland, Poland and Luxembourg
(Thomson Reuters ONE) -
Almere, 4 April 2013 - USG People is taking another step in the execution of its
strategy with the sale of its General Staffing activities in Spain, Italy,
Austria, Switzerland, Poland and Luxembourg. In 2012 the combined revenue of
these activities was ? 434 million. USG People revised its strategy in 2011,
shifting its focus on markets where it can offer its stakeholders distinct added
value and create sufficient scale to position itself in a leading and profitable
way throughout the cycle.
The scale of the respective business units is too limited for them to be able to
add value, an aim defined in our strategic objectives, in the market segment in
which they operate. The sale of these relatively low-yield activities has an
immediate positive effect on the profitability of USG People and supports the
strategic financial targets. It also has a positive impact on the company's
financing needs due to reduced demand on working capital.
The sale to Randstad creates positions in the respective countries with
effective scale for the markets, making it possible to unlock the potential of
these business units better and to safeguard their continuity.
USG People aims to mainly focus its attention on its existing leading positions
and to target investments on the expansion of high-yield concepts, such as
USG Professionals. Better targeted positioning strengthens the organisation's
focus on these strategic objectives. The sale proceeds of ? 20 million will be
used to further execute the strategy.
The Central Works Council has issued a positive advice on the proposed sale and
the transaction will be submitted for European Commission approval. The
transaction is subject to the customary conditions precedent.
For more information, please contact:
Leen Geirnaerdt, Chief Financial Officer
Telephone: +31 (0)36 529 95 07
Disclaimer
This press release is available in Dutch and English. In the event of
ambiguities, the Dutch text shall prevail.
About USG People
With revenue of ? 2.9 billion in 2012 USG People is one of the largest providers
of HR services in Europe with established and recognisable national and
international brands. Headquartered in the Dutch city of Almere, USG People is
active in Belgium, France, Germany, Italy, Luxembourg, the Netherlands, Austria,
Poland, Spain and Switzerland.
The brand portfolio of USG People comprises Start People, Call-IT, USG Restart
(General Staffing) - Unique, Technicum, Secretary Plus, ASA, Creyf's,
Vakcollege Groep (Specialist Staffing) - Legal Forces, USG Capacity,
USG Financial Forces, USG HR Forces, USG Innotiv, USG Juristen,
USG Legal Professionals, USG Marketing, Communication & Sales Professionals,
Control, ikki (Professionals).
USG People is listed on the NYSE Euronext Amsterdam stock exchange and is
included in the Amsterdam Midcap Index (AMX).
For more information on USG People or any of its operating companies, please
visit our website at www.usgpeople.com.
download press release in pdf format:
http://hugin.info/130803/R/1690062/554767.pdf
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Source: USG People NV via Thomson Reuters ONE
[HUG#1690062]
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