ASSA ABLOY acquires Ditec, a global leader in entrance automation
(Thomson Reuters ONE) - ASSA ABLOY has signed an agreement to acquire the Italian based DitecGroup, a global leader in entrance automation products forpedestrian, sectional, high speed doors and gates.Ditec was established in 1974. Company headquarters are located inCaronno, close to Milano, Italy. The Ditec Group has 550 employeesworldwide."I am very pleased that Ditec is joining the ASSA ABLOY Group. Theacquisition of Ditec is an important step in our growth strategy intothe fast growing and profitable market segment of door automatics.Also very pleasing is that Ditec adds a strategic reinforcement toour indirect sales channel both for the mature markets in Europe andNorth America and for the expanding entrance automation business onthe emerging markets" says Johan Molin, President and CEO of ASSAABLOY."With Ditec, we become truly a world-leader in entrance automation bycomplementing our existing product portfolio. I am very pleased towelcome the Ditec team to the Entrance Systems division. With thisacquisition, we also become the clear no 1 player in the Italianmarket for automatic doors and we add an important indirect saleschannel" says Juan Vargues, Executive Vice President of ASSA ABLOYand Head of Division Entrance Systems.Sales are expected to reach EUR 80 M in 2009 and the acquisition isexpected to be slightly dilutive to earnings during 2009. Thetransaction is expected to close during the third quarter of 2009.For more information, please contact:Johan Molin, President and CEO, tel no: +46 8 506 485 42Tomas Eliasson, CFO and Executive Vice President, tel no: +46 8 506485 72http://hugin.info/1014/R/1331339/314960.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 29.07.2009 - 08:25 Uhr
Sprache: Deutsch
News-ID 4077
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