ASSA ABLOY acquires Swedish locksmith Swesafe
(Thomson Reuters ONE) -
ASSA ABLOY has signed an agreement to acquire Swesafe, the largest locksmith in
Sweden.
"I welcome that Swesafe is joining the ASSA ABLOY Group. They are an important
step in the Group's desire to further develop the Swedish market within the fast
growing electromechanical segment," says Johan Molin, President and CEO of ASSA
ABLOY.
"By owning the largest locksmith business in Sweden, we will be able to
facilitate the development of the locksmith and security installer industry to
become more project oriented, focusing on the offering of electronic products
and service concepts. Furthermore, it will give us a better understanding of our
end users needs," says Tzachi Wiesenfeld, Executive Vice President of ASSA
ABLOY, and Head of the EMEA division
Swesafe will be run as a completely separate unit within ASSA ABLOY Scandinavia
and Göran Burenstam Linder will continue as Managing Director. Swesafe will
become a sister company to both ASSA AB and Copiax AB.
2010 sales is expected to reach SEK 430 M, equally split between mechanical and
electromechanical products. Swesafe has 24 branches and 313 employees. The
acquisition will be slightly accretive to earnings per share from start.
The acquisition is subject to regulatory approval.
For more information, please contact:
Johan Molin, President and CEO, tel no: +46 8 506 485 42
Tomas Eliasson, CFO and Executive Vice President, tel no: +46 8 506 485 72
[HUG#1457857]
Press release PDF:
http://hugin.info/1014/R/1457857/397452.pdf
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(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
Unternehmensinformation / Kurzprofil:
Datum: 02.11.2010 - 08:31 Uhr
Sprache: Deutsch
News-ID 48294
Anzahl Zeichen: 2271
contact information:
Town:
Stockholm
Kategorie:
Business News
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