ASSA ABLOY acquires Angel Metal in Korea
(Thomson Reuters ONE) -
ASSA ABLOY has signed an agreement to acquire Angel Metal in Korea. Angel Metal
offers locks and hardware on the Korean market both in the residential and
commercial segments.
"I am very pleased that Angel Metal is joining the ASSA ABLOY Group. The
acquisition is another important step in our growth strategy on the emerging
markets" says Johan Molin, President and CEO of ASSA ABLOY.
"Angel Metal is a great addition to the ASSA ABLOY family. Besides great
products and a strong brand, it has strong presence in the specification market
and will be a great complement to our existing Korean businesses," says Jonas
Persson, Executive Vice President of ASSA ABLOY and Head of Division Asia
Pacific.
Angel Metal was established in 1978, has its headquarter and main manufacturing
site at Daegu and branch office and warehouse in Seoul.
Sales is expected to reach KRW 27 B in 2011 (approx SEK 170 M) with a good EBIT
margin and it will be accretive to EPS 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
Press release PDF:
http://hugin.info/1014/R/1544331/473261.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#1544331]
Unternehmensinformation / Kurzprofil:
Datum: 06.09.2011 - 13:02 Uhr
Sprache: Deutsch
News-ID 62583
Anzahl Zeichen: 1996
contact information:
Town:
Stockholm
Kategorie:
Business News
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