ASSA ABLOY acquires Chinese window hardware manufacturer Shandong Guoqiang
(Thomson Reuters ONE) -
ASSA ABLOY has acquired Shandong Guoqiang Hardware in China. Guoqiang offers a
full range of window hardware predominantly in the Chinese market. The company
has a good market presence in China through an extensive network of sales
offices.
"I am very pleased to welcome Guoqiang into the ASSA ABLOY Group. Guoqiang is an
important step in our expansion into new growth segments in China and other
emerging markets", says Johan Molin, President and CEO of ASSA ABLOY.
"Guoqiang is a great addition to the Asia Pacific division. It complements our
existing door opening solution offering in China, and provides access to China's
window hardware market", says Jonas Persson, Executive Vice President of ASSA
ABLOY and Head of Asia Pacific Division.
Guoqiang was established in 1998 and has over 2 000 employees. The head office
and main factory is located in Leling, Shandong province, China.
Sales is expected to reach CNY 550 M (approx SEK 600 M) in 2012 with a good EBIT
margin. The acquisition will be accretive to EPS from start.
For more information, please contact:
Johan Molin, President and CEO, tel no: +46 8 506 485 42
Carolina Dybeck Happe, CFO and Executive Vice President, tel no:
+46 8 506 485 72
Press release PDF:
http://hugin.info/1014/R/1615611/515032.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: ASSA ABLOY via Thomson Reuters ONE
[HUG#1615611]
Unternehmensinformation / Kurzprofil:
Datum: 30.05.2012 - 08:02 Uhr
Sprache: Deutsch
News-ID 151067
Anzahl Zeichen: 2012
contact information:
Town:
Stockholm
Kategorie:
Business News
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"ASSA ABLOY acquires Chinese window hardware manufacturer Shandong Guoqiang"
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