Frankfurt/Main, Germany (PROTEXT/ots) - Responding to theevents of September 2001 and the aviation market's demand forincreased safety and security measures, Fraport AG and ICTSannounce that they have started negotiations for Fraport toacquire the remaining 55 percent of ICTS Europe's shares.Earlier this year, Fraport had already purchased 45 percent ofICTS' shares. This move will give Fraport a platform for providing aviationsecurity services as an integral part of its overall airportmanagement services. Fraport will thus become market leader inEurope. It will also allow ICTS to focus on its U.S. aviationsecurity operations and introduce enhanced technologies to theaviation security market at large. The deal is expected to besigned next month and to go into effect on January 1, 2002. Fraport and ICTS intend to cooperate in developing andintroducing technologies to the aviation security market. Johannes Endler, CFO of Fraport, said: "We are on the move tobecome Europe's largest provider of airport security and to reactto the customers' needs as fast as possible." Lior Zouker, President and CEO of ICTS, commented: "Thecompletion of the sale of our European operations to Fraport andextension of our technological cooperation with Fraport willenable us to play a major role as a supplier of technologicalsolutions to the aviation security market."
ots Original TextService: Fraport AG Internet: http://www.presseportal.de
ForMore Information, Please Contact: Fraport AG Frankfurt AirportServices Worldwide Attn: Robert A. Payne - ManagerInternational Press 60547 Frankfurt am Main, Germany Tel.: +4969 690 -78547 (with voice mailbox) Fax: +49 69 690 -60548 E-Mail: r.payne@fraport.de Internet: www.fraport.de (click on"Press Lounge")
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