Vedior where people matter

Vedior expands into Mexico

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Amsterdam, Thursday, July 29, 2004

Vedior expands into Mexico


Vedior is pleased to announce it has acquired an initial 51% interest in Top Personnel, S de RL de CV (“Top Personnel” or “the Company”), a provider of outsourcing and traditional office administration staffing services.

Based in Mexico City, Top Personnel is the 5th largest staffing services company in Mexico. Zach Miles, Vedior’s Chief Executive said, “Mexico is a new market for the Group and I am delighted that we have been able to acquire a company with an excellent reputation and potential to expand its operations under the Vedior Group umbrella.”

The Company achieved audited annual sales to 31 December 2003 of MXN 162.4 million (€13 million) and has sustained an average sales growth rate of 25% over the last five years. Established in 1993, the Company has an excellent client base and services several global companies with needs beyond Mexico.

Through this acquisition, Vedior expands its presence to 36 markets as well as providing a strategic gateway to the Group’s Latin American network covering Argentina, Brazil and Chile. Top Personnel will be able to take advantage of Vedior’s expertise in developing specialist staffing sectors to add higher-margin specialist staffing to its portfolio of services.

Mexico has the world’s 11th largest population and its 9th largest economy, 55% of which is service sector based. Mexico has benefited greatly from the North America Free Trade Agreement (NAFTA) implemented in 1994 as global manufacturers and investors flocked to the country to take advantage of its skilled workforce.

Top Personnel’s existing management team will continue to develop the Company. The outstanding 49% interest will remain with management of the Company with Vedior having the right to acquire these shares in due course.

Notes to Editors:


With annual 2003 sales of €5,970 million, Vedior is the world’s third largest staffing company measured by sales. The Group operates in 36 countries worldwide including Europe, North America, Australasia, South Africa, Latin America and Asia. Vedior provides a broad range of staffing services including temporary staffing, permanent placement and other employment-related services. We offer temporary staffing in both the traditional administrative/light industrial and specialist sectors such as information technology, healthcare, accounting, engineering and education operating under many different brand names.


For further information, please contact:


Zach Miles, Chief Executive+31 (0)20 573 5609

Frits Vervoort, CFO

Jelle Miedema, Company Secretary