A new tie up has been made between the Indian company, AP Securitas Group (APS) and the Israeli company ARES Group for jointly providing advanced security solutions and consultancy services in the country. The APS Group is a premium company in India that provides security services to major Indian corporate houses.
The sources related to the development have informed that the new company formed from the 50:50 joint venture, has been named as the ARES-APS Security Services Pvt. Ltd. The sources said that the Israel-based company has the experience of providing security services to Olympic Games in Atlanta, Athens and Beijing. The company is also an expert in providing security services for the hospitality sector. The multinational brands like Hilton, Sheraton, Harrods and Holiday Inn have already utilised the services of the ARES Group. Apart from that, the company also has expertise in providing security services to the Aviation sector, maritime security, anti-terror and VIP security.
The 120-crore APS Group is looking forward of sharing its experiences with the ARES Group with a view to provide better security to its clients. The ARES Group will invest $5 million by 2010, as part of the joint venture and it is expecting to generate business worth $10 million through this joint venture. The other partner, APS Group is currently having its presence in 180 cities in India. The client list of the company includes the likes of HDFC Bank, ICICI Bank, Reliance Bank and Axis Bank.
Source: The Hindu Business Line (Newspaper).