USG People sells its General Staffing activities in Spain, Italy, Austria, Switzerland, Poland and Luxembourg
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For best results when printing this announcement, please click on the link below: http://pdf.reuters.com/htmlnews/8knews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20130404:nHUGd11b 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 EUR 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 EUR 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 EUR 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 http://www.usgpeople.com . download press release in pdf format http://hugin.info/130803/R/1690062/554767.pdf ---------------------------------------------------------------------------------------------------- This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: USG People NV via Thomson Reuters ONE HUG#1690062
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