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Archive: July 2002


Suppliers

Philips adds training centers in the west, central part of the country

July 1, 2002Chelsie Woods

LANCASTER, Pa.-Philips CSI is set to open a new training facility in Detroit this month, one of three such facilities this year for the manufacturer of camera and camera related products. The training center in Detroit hosted an open house in June with classes set to begin this month. It was preceded by a center in Sunnyvale, Calif. and will be followed with a location in Denver later this year. "The demand for training is out there," said Mike Bard, manager of customer projects and training...

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Suppliers

Diversified makes its first buy since going public

July 1, 2002Chelsie Woods

SADDLE BROOK, N.J.-Systems integrator Diversified Security Solutions made its first acquisition since going public earlier this year, buying PhotoScan Systems, a Los Angeles company that specializes in security systems for medical facilities. The deal expands Diversified Security's footprint into the West Coast, providing the company with a platform to grow in that geographic market. "The presence is the most important thing," said Irv Witcosky, president and chief operating officer of Diversified....

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Suppliers

Security Networks buys Proton Security

July 1, 2002RoJean Tulk

WEST PALM BEACH, Fla.-Security Networks, a security company that began operations here in April, acquired Lantana, Fla.-based Proton Security in June. The purchase marks the first of several acquisition Security Networks intends to make as part of a strategic plan to expand throughout the Southeast. "We intend to become a significant player in the region," says Richard Perry, Security Networks' president and founder. "We're looking at a number of opportunities to acquire quality (security) companies." Proton...

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Monitoring

Dice targets Latin America

July 1, 2002Andrea Gura

ESSEXVILLE, Mich.-To go after what company officials estimate is a huge demand for GPS and other personal location services, Dice Corp. has opened an office in Houston and hired a salesman fluent in many of the Latin American languages to tackle new territory in Latin America. Dice already has its automation software installed in five locations throughout Latin and South America, most notably at the central station of Santiago, Chile-based Telemergencia. The Chilean security company is...

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General News

Financing activity predicted to rise as year progresses

July 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....

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General News

NBFAA presents Weinstock and other awards

July 1, 2002SSN Staff

SILVER SPRING, Md.-The National Burglar & Fire Alarm Association presented a number of different awards during the ISC Show in Las Vegas, including awards for Fire Official of the Year, the Morris F. Weinstock Award and the Sara E. Jackson award. Jack Menke from the Safety Division of the Kettering, Ohio Fire Department received the 2002 Fire Official of the Year Award for his collaborative spirit in creating an open dialogue with the alarm and security industry. Menke is also a sales manager for...

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General News

Western Resources garners new credit agreement

July 1, 2002SSN Staff

TOPEKA, Kan.-Western Resources announced in June it had secured a $735 million credit agreement that would provide for a $585 million term loan and a $150 million revolving credit facility, both arranged by J.P. Morgan Securities Inc. Western will use the proceeds of the term loan to retire an existing credit facility maturing in March 2003 with an outstanding principal balance of $380 million. Each of the new financing agreements matures June 6, 2005. Voxcom revenues up 10 percent for fiscal...

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Fire Systems Installation

Electrical contractor takes on hotel

July 1, 2002Andrea Gura

MYRTLE BEACH, S.C.-An electrical contractor here with a fire alarm installation division is tackling the fire system installation at a 12-story hotel being built as part of a new convention center, a project conducted in conjunction with fire manufacturer Gamewell. For installer United Electric of Myrtle Beach, the Radisson hotel at the Myrtle Beach Convention Center is a $2.5 million project, which encompasses all the electrical work as well as the installation of Gamewell's Flex 632 Addressable...

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General News

ADT strikes deal with N.Y. AG

July 1, 2002Andrea Gura

BOCA RATON, Fla.-ADT Security Services has agreed to pay nearly $650,000 in customer refunds and change its new residential security services contract in a settlement reached between the security company and New York Attorney General Eliot Spitzer, a settlement that all together will cost the company $1.29 million. Spitzer's office launched an investigation into ADT's installed back-up wireless radio transmitters after receiving a complaint in July of 2001, said Christine Pritchard, a spokeswoman...

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Raising money is no easy task

July 1, 2002SSN Staff

Money makes the world go around. We all know it. You have to have money to make money. Yup, there's no secret there. There's got to be an initial cash investment in any business in order to start one or grow one. And often there needs to be additional cash added along the road to take it to the next level. So where the heck do you get money to do these things in the first place? In some cases it's your local bank. But in most cases, banks just don't take much risk and that's especially so right...

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