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The Pittston Company is a global business and security services company based in Richmond, Virginia. Pittston’s business units, with approximately 50,000 employees, generated revenues of $3.8 billion in 2002 by providing outstanding service to customers in more than 120 countries.
Pittston is in the process of changing its name to “The Brink’s Company”, to reflect the focus on premier business and security services. The name, Brink’s, is synonymous throughout the world with integrity, trust, security, efficiency and world-class service. All of Pittston’s core businesses are focused on protecting people and property – at home, at work, or en route – virtually anywhere in the world.
Brink’s, Incorporated is the world’s premier provider of secure transportation and cash management services. BAX Global is an industry leader in international freight transportation and supply chain management services. Brink’s Home Security is one of the largest and most successful residential alarm companies in North America.
Pittston
exited the coal business in 2002. The company’s remaining,
relatively small interests in other natural resources include natural
gas, gold and timber. These businesses do not fit strategically
with the company’s core business and security services focus;
they will be managed consistent with achieving the highest benefit
for shareholders until they can be divested for appropriate value.
Pittston’s transition from a diversified natural resources company to a focused business and security services company greatly improves its opportunities to achieve significant growth, superior cash flow and higher returns for shareholders. The acceleration of world trade is driving new business to both Brink’s and BAX Global, while the demand for greater security is fueling growth for both Brink’s and Brink’s Home Security. In short, Pittston is well positioned to help its customers reap the rewards and manage the risks of a rapidly changing world.
In addition to being in the right businesses at the right time, Brink’s, BAX Global and Brink’s Home Security are trusted in their respective industries. All three are widely recognized for providing the highest levels of service to their customers. The business units support their customers with global networks of security, transportation and business service assets and stay ahead of their markets by continually expanding and improving service standards in anticipation of customers’ needs.
Pittston’s focus on premier business and security services, together with its new name, should increase stability and consistency of financial performance and increase visibility in the financial and investment markets. The Pittston Company is a powerful combination of dedicated people and global assets. Its consistently strong cash flow enables its operating companies to invest in growth opportunities while maintaining a solid financial position. Its commitment to unparalleled customer service provides stability in difficult times and the potential for rapid growth as the global economy expands.
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