ASSA ABLOY sells Cardo Flow Solutions
(Thomson Reuters ONE) -
ASSA ABLOY has through its subsidiary Cardo AB signed an agreement with the
Swiss company Sulzer Ltd to sell Cardo Flow Solutions. The selling price is SEK
5,900 M on a cash and debt free basis. The agreement does not include Lorentzen
& Wettre.
"I find it very satisfying that Cardo Flow Solutions in Sulzer Ltd gets a long
term owner that gives the company an industrial home and creates opportunities
for a continued good development" said Johan Molin, President and CEO of ASSA
ABLOY in a comment.
At the announcement of the public offer for Cardo on December 13, 2010, ASSA
ABLOY communicated its intention to consolidate Cardo Entrance Solutions in ASSA
ABLOY's division Entrance Systems and to sell the other businesses, i.e. Cardo
Flow Solutions and Lorentzen & Wettre, that do not long term fit ASSA ABLOY's
operations.
The transaction is expected to close during the second half of 2011 and is
subject to regulatory approvals.
ASSA ABLOY discloses the information provided herein pursuant to the Securities
Markets Act and/or the Financial Instruments Trading Act. The information was
submitted for publication at 07.00 CET on 7 april, 2011.
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
Press release PDF :
http://hugin.info/1014/R/1504247/439136.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#1504247]
Unternehmensinformation / Kurzprofil:
Datum: 07.04.2011 - 07:01 Uhr
Sprache: Deutsch
News-ID 53245
Anzahl Zeichen: 2150
contact information:
Town:
Stockholm
Kategorie:
Business News
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