24 July 2012: G4S notes the announcement today that Ministers have decided to mobilise the additional 1,200 troops which had previously been put on standby in order to supplement the security workforce deployment for the Olympic Games.
The security of the Games is the primary focus and therefore we understand the decision by Ministers to activate the additional contingency resource as a further precaution at this stage of the process.
We have made very good progress in the last few days and, in line with the revised deployment plan submitted to LOCOG, currently have around 5,800 security personnel deployed at Olympic venues. Significant numbers of candidates are now reaching the final stages of the training and accreditation process each day and we are working hard to ensure that we deliver on the commitments we made to LOCOG last week.
We are grateful to the military for their support in securing the Olympic and Paralympic Games and will continue to work with them and LOCOG to ensure that the Games are safe and secure.
As we have announced previously, G4S has undertaken to cover the additional costs relating to the military deployment and believes that, including the deployment of the additional 1,200 troops, the overall losses to be incurred on the contract will remain within the previously stated estimate of £35m - £50m.
G4S is the world’s leading secure outsourcing group, specialising in outsourcing of business processes in sectors where security and safety risks are considered a strategic threat.
G4S is the largest employer quoted on the London Stock Exchange and has a secondary stock exchange listing in Copenhagen. G4S has operations in more than 125 countries and over 657,000 employees.