The Gunnebo Group has signed a partnership agreement with the Transguard Group, one of the largest business services companies in the Middle East.

According to the agreement, Gunnebo will jointly promote and sell its cash management solutions as part of a larger package together with Transguard’s CIT (cash in transit) services. This will see sectors like retail, bank and government being offered a new, more integrated cash management solution which will give them wider benefits such as automatic reconciliation, improved cash flow and real-time credit.

“This key partnership will strengthen Gunnebo’s position as a global provider of cash management solutions and services,” states Gunnebo’s President & CEO, Henrik Lange. “As cash remains the most widely accepted form of payment in the United Arab Emirates (UAE), this partnership will help Gunnebo to secure a significant share of the market for cash management in the region.”

This partnership agreement is born out of the growing demand in the region for a cash management offering which combines automated cash handling processes with transportation, storage and counting services.