ASSA ABLOY Acquires Atlantic Door Control in the U.S.

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PR Newswire

STOCKHOLM, June 29, 2017

STOCKHOLM, June 29, 2017 /PRNewswire/ --

ASSA ABLOY has acquired Atlantic Door Control, a pedestrian door distributor in Maryland and Virginia.

"I am very pleased that Atlantic Door Control is joining the ASSA ABLOY Group. I welcome this addition that further reinforces ASSA ABLOY's leadership in entrance automation, where our sales have grown from SEK 3 billion in 2008 to SEK 20 billion in 2016", says Johan Molin, President and CEO of ASSA ABLOY.

"We hereby continue our expansion in North America, adding to our growing market footprint. Atlantic Door Control gives us a strong presence in an important area of the market and I welcome the team to ASSA ABLOY," says Juan Vargues, Executive Vice President of ASSA ABLOY and Head of Division Entrance Systems.

Atlantic Door Control was established in 1992 and the company is headquartered in Columbia, Maryland.

Sales for 2017 are expected to reach USD 12 million (approx. SEK 110 million) with a good EBIT margin. The acquisition will be accretive to EPS from start.

For more information, please contact:

ARIVA.DE Börsen-Geflüster

Kurse

Assa Abloy

26,29 €

+0,27%

Assa Abloy ADR

14,11 $

+1,00%

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

About ASSA ABLOY

ASSA ABLOY is the global leader in door opening solutions, dedicated to satisfying end user needs for security, safety and convenience. Since its formation in 1994, ASSA ABLOY has grown from a regional company into an international group with about 47,000 employees, operations in more than 70 countries and sales of SEK 71 billion. In the fast-growing electromechanical security segment, the Group has a leading position in areas such as access control, identification technology, entrance automation and hotel security.

This information was brought to you by Cision http://news.cision.com
http://news.cision.com/assa-abloy/r/assa-abloy-acquires-atlantic-door-control-in-the-u-s-,c2297325

The following files are available for download:

http://mb.cision.com/Main/7333/2297325/693940.pdf

Press release (PDF)

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/assa-abloy-acquires-atlantic-door-control-in-the-us-300481719.html

SOURCE ASSA ABLOY

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