Heros, Secur-Log

Type
Merger/Acquisition
Country
Germany
Region
Location of affected unit(s)
Sector
Transportation / Storage
52 - Warehousing, storage and support activities for transportation
52.2 - Support activities for transportation
52.2 - Support activities for transportation
1,600 jobs
Number of planned job losses
Job loss
Announcement Date
1 May 2006
Employment effect (start)
Foreseen end date

Description

On 01 May 2006, Insolvency proceedings started against Heros, a German cash transport firm. Heros has been taken over by the US-firm Matlin Paterson that wants to cut down 1600 jobs. These 1600 employees shall be transferred to an “employment-transfer-agency” (Beschäftigungsgesellschaft). Heros has been renamed into Secur-Log.

Sources

  • 19 May 2006: Sueddeutsche Zeitung

Citation

Eurofound (2006), Heros, Secur-Log, Merger/Acquisition in Germany, factsheet number 63526, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/63526.