Archive: June 2002
Financing activity predicted to rise as year progresses
June 1, 2002Joanne Friedrick
Financing activity predicted to rise as year progresses
How do capital providers view 2002?
With optimism and an eye toward new business and increased acquisitions activity, according to interviews with Security Systems News.
While the pendulum has swung in a conservative direction over the past year, Henry Edmonds, chief executive officer of SLP Capital in St. Louis, said it's heading back to where it had been.
"We're coming to the end of the cycle," he said, noting markets and values are stabilizing....
Beare resigns, Gunning named COO
June 1, 2002SSN Staff
LEWISVILLE, Texas-Two years after taking over the reigns as president and chief executive officer of Ultrak, Peter Beare has stepped down and a new person has been brought in to return the camera, access control and manufacturer of other products to profitability.
Rufus Bond Gunning has been named chief operating officer of the company, which in recent years has struggled with an undervalued stock price and bringing product to market in a timely fashion.
Gunning comes to Ultrak with more than...
Custom System rides the wave
June 1, 2002Chelsie Woods
BERMUDA DUNES, Calif.- Custom System Technologies is riding the wave of growth in its community. With more installation jobs thanks to a construction boom in Coachella Valley near Palm Springs, the integration company recently moved into larger offices and hired four new employees.
"The valley has grown dramatically over the past few years, in new home construction and office building construction," said Mike Deveso, director of sales and marketing at Custom System Technologies. "The valley...
Tyco abandons breakup plan
June 1, 2002Andrea Gura
PEMBROKE, Bermuda-Only a few months after stunning the market with its plans to split into four companies its well-oiled conglomerate, Tyco International an-nounced in late April that it was abandoning its strategy to breakup the company, including its plans to split apart its Fire & Security division, which encompasses ADT Security Services.
The termination of the plan follows months of slumping company stock prices, which fell from nearly $60 per share late last year to a five-year low of...
Newspoll Results
June 1, 2002SSN Staff
We sent a newspoll to our Security Systems News Newswire subscribers asking them what they think about Tyco's plan to purchase DSC. Here's the question we asked, how people responded and comments some of you made.
Question: What type of an impact do you think Tyco's planned purchase of security product manufacturer DSC will have on the security industry if approved by federal regulators?
51% - Very Significant
39% - Significant
7% - No impact
3% - No opinion
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"Frankly, I'm very concerned...
Companies launch senior monitoring system
June 1, 2002Andrea Gura
YORKTON, Saskatchewan-A three-location monitoring company and a Canadian equipment manufacturer have partnered to offer a new in-home monitoring system that targets the senior citizen facility population.
SecurTek, a contract monitoring company with central stations in Calgary, Alberta; Winnipeg, Manitoba and at its headquarters here, will provide the monitoring for SecurTek SafetyNet, a system that is installed in a senior housing complex or other multi-dwelling senior facility that can provide...
Co-op central offers data storage
June 1, 2002Andrea Gura
TULSA, Okla.-A UL-listed central station based here is taking off-site document storage into modern times with a new service, off-site data storage that its dealers can offer to their customers.
Monitoring America Alarm Co-op planned to have the off-site data storage offering online by June 1, and available to its base of nearly 100 dealers across the country, said Ron Wies, general manager of the company.
"Virtually no one backs up their computer, it's a cumbersome thing," Wies said. "Dealers...
ITI line now available through select distributor channels
June 1, 2002Chelsie Woods
NORTH ST. PAUL, Minn.-For the first time, the ITI line of products is being made available through independent distributors and could soon be sold through ADI.
The move from selling products direct from the manufacturer to adding distributors is expected to make it easier for dealers to buy ITI's products and enable the product line to reach a broader audience, said Reed Grothe, vice president of sales for the Security and Life Safety Group of GE Interlogix.
It's also a critical step, he said,...
Simplex opens new headquarters
June 1, 2002Mary Raitt
WESTMINSTER, Mass.-Global fire detection and security systems provider Simplex Time Recorder Co. opened a new headquarters and operation center this spring, a move company officials say reflects double-digit growth.
In April, Simplex moved from its century-old Gardner, Mass. site to consolidate its business in a 176,000-square-foot facility on 300 acres which will house all research and development, manufacturing, distribution, marketing and administrative operations. Employees at the former...
Verified response policy takes effect in one Canadian province
June 1, 2002Andrea Gura
HALIFAX, Nova Scotia-Alarm dealers here are struggling to deal with a new blanket policy that requires alarms to be verified before provincial authorities will respond.
In late March, the Royal Canadian Mounted Police sent out a letter notifying the Canadian Alarm and Security Association and its membership of the revision to the RCMP's policy.
Dan Small, general manager of Armstrong's Communication Ltd. in Dartmouth and president of CANASA's Atlantic region said that it appeared the RCMP had instituted...