GVI Security Embarks on Cost-Saving Restructuring
CARROLLTON, Texas
Integrated security solutions provider GVI Security Solutions Inc. has announced it is undertaking a restructuring designed to reduce costs for the company. In addition to manufacturing access control and detection systems, GVI is the exclusive distributor of Samsung CCTV products in North America.
In addition to reducing its advertising and marketing budget by 40 percent, GVI is placing a 3-percent price increase on its core products.
In a release, GVI says the moves are being made to have minimal impact to its customers and to bring the company back into profitability for 2006.
“2005 was a transition year for GVI as we shifted our focus away from sales to retailers and grew our professional, enterprise and homeland security lines of business,” said GVI CEO Nazzareno Paciotti in a statement.
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