Security Group forms JV with US firm

Chennai-based Security Group has formed a 60:40 joint venture with US-based Trojan Securities International to provide high quality security (guarding) services and a range of other services.

Security Group has so far, been offering only guarding services. The new joint venture firm, Trojan Securities India (P) Ltd, will offer solutions in security, aviation, emergency medical rescue and support for governments and non-governmental organisations, corporations and other institutions.

Addressing a press conference, J Jayakumar, vice president, Security Group, said that there is an increasing need for greater and better security services. The joint venture would also help meet the growing demands, which include investigative services from the corporates and the business houses.

Trojan Securities International, a company providing security training services to US armed forces, would bring in US experience and knowledge into the joint venture.

Stephen Mastalerz, director, Trojan Securities said that India was a growing market for security services as more multinational corporations were coming to India. "We are keen to expand our services, both in India and abroad," he added.

Jayakumar said that the joint venture was expected to bring in more corporate clients. At present, the group has about 200 clients, which include corporates, educational institutions, financial institutions and hospitals, in Chennai alone.

Security Group employs over 6,000 security personnel, which include both full-time and part-time workers, in various places for its clients. The group's revenue was estimated at around $1million.

The joint venture is also expected to help expand Security Group's services in other parts of the country. It was predominantly focusing on southern region. The security services market in India was estimated at about $1 billion.

Jayakumar said that no other private agency was offering such specialised security and medical services in the country. The Security Group has set a target to achieve a revenue of $5 million by the end of 2006.

The group has a training academy near Chennai which imparts basic security training to personnel of different age groups for the purpose of deployment.