| Type | Public (NYSE: BCO) |
|---|---|
| Industry | Logistics, Security |
| Founded | 1859 |
| Headquarters | Richmond, Virginia, U.S. 650 branches and 7,800 vehicles in 150 countries |
| Key people | Micheal T. Dan, CEO |
| Products | Safes, Products |
| Revenue | US$3.12B (FY 2010)[1] |
| Operating income | US$164M (FY 2010)[1] |
| Net income | US$57.1M (FY 2010)[1] |
| Total assets | US$2.27B (FY 2010)[2] |
| Total equity | US$516M (FY 2010)[2] |
| Employees | 59,400 (2010) |
| Website | www.brinks.com |
The Brink's Company (NYSE: BCO) is a security and protection company headquartered in Richmond, Virginia, United States. Its core business is Brink’s, Incorporated; it spun off its Brink’s Home Security operations into a separate company (Broadview Security) in 2008. In 2005, the company reported a total of 54,000 employees and operations in more than 50 countries. The company emerged from The Pittston Company and changed its name to The Brink’s Company in 2003.
Brink’s is popularly known for its bullet-resistant armored trucks which are used to carry money and valuable goods (once used to transport the Hope Diamond from an auction to the buyer's home). Brink’s is a provider of security services to banks, retailers, governments, mints and jewelers. Founded in 1859 by Perry Brink of Chicago, Illinois, Brink’s Incorporated evolved from an armored transportation service to one of the main providers of logistics solutionsand secure transportation in the world. About three quarters (72% in the third quarter of 2010) of Brink's revenue comes from business outside of North America.[3] In 2010 17% of revenue came from France (which accounted for 44% of European business)[4]
Brink's recently sold one of its core operations, BAX Global, a logistics and transportation solutions company. BAX Global was formerly known as Burlington Air Express. On January 31, 2006, Brink's sold BAX Global to Deutsche Bahn for US$1.1 billion.
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The Brink's Company announced on February 25, 2008 that it would spin off Brink's Home Security into a separate publicly traded company.[5] The spin-off was completed in the fourth quarter of 2008, and by mid 2009 was re-branded as Broadview Security.[6] On January 19, 2010, Tyco International announced that it is acquiring Broadview Security in a transaction that will bring together two of the largest names in home and commercial security. Broadview will merge and operate under ADT Security Services.[7]
The Great Brink's Robbery was an armed robbery of the Brinks Building at the corner of Prince St. and Commercial St. in the North End of Boston, Massachusetts, USA, on the night of January 17, 1950. Led by Boston small-time hood, Tony "Fats" Pino, eleven men broke in and stole $1,218,211.29 in cash, and $1,557,183.83 in checks, money orders, and other securities. At the time, it was the largest robbery in the history of the United States. Skillfully executed with only a bare minimum of clues left at the crime scene, the robbery was billed as "the crime of the century". The robbery was the work of an eleven-member gang, all of whom were later arrested, but all were parolled and released by 1971, except for one member, who died in prison. Despite ongoing efforts by the FBI and local authorities, only $58,000 of the initial $2.7 million stolen was ever recovered.
There was an attempted armed robbery of a Brink’s armored car by members of the Weather Underground Organization and Black Liberation Army that took place on October 20, 1981. The robbery resulted in a shootout that left two police officers, Edward O'Grady and Waverly Brown, and a Brink’s security guard, Pete Paige, dead. Paige's partner, Joe Trombino, was severely wounded in the gun battle, but survived. He later died in the World Trade Center during the 9/11 terrorist attacks in 2001.[8]
On November 26, 1983 there was an armed robbery at a warehouse near Heathrow Airport, London operated by former Brink's joint venture Brink's-MAT. Three tonnes of gold bullion (worth £26 million) was stolen. Most of the gold has never been recovered.
$7.4 million was stolen from the Brink’s Armored Car Depot in Rochester, New York, the fifth largest robbery in US history. Four men, Samuel Millar, Rev. Patrick Moloney, former Rochester Police officer Thomas O'Connor, and Charles McCormick, all of whom had ties to the Provisional Irish Republican Army, were accused.[9]
Brink's just filed for bankruptcy in Belgium early November. It accuses the unions being responsible. At the same time, Brink's has applied for and obtained a license to transport funds. The conciliator office and the minister denounced the unwillingness of the leadership to negotiate and the Belgian trade union "investigating" to determine if the bankruptcy is fraudulent or not. On November 15, 2010 the court refuse the bankruptcy. "This bankruptcy confession is inadmissible because it was premature and therefore unfounded," said the procureur. "The responsibility of the directors of Brink's is engaged and it is a regrettable fraud on the bankruptcy laws and a manipulation of the court in order to reduce internal social conflict". The court proceeded with the appointment of counsel Gérard Delvaux and Alain Zenner as provisional directors of Brinks. On November 16, 2010 the public court is looking of misuse of corporate assets.[10] On November 25, 2010 the court of commerce accepted a protection of Brink's against its creditors. With this, the provisional directors can continue negotiating with interested companies. At that time, there are 2 Belgian and 2 foreign companies interested.