13 Aug 2010
ASSA ABLOY has acquired Security Metal Products, a
well established US manufacturer of standard and specialty high
security custom hollow metal commercial doors and
Security Metal Products, established in 1955, is
headquartered in Southern California with manufacturing facilities
and regional offices in North America and 150 employees.
"I am very pleased that Security Metal Products is
joining the ASSA ABLOY Group and with this addition we take another
important step in providing a wide range of products for complete
commercial door opening solutions," says Johan Molin, President and
CEO of ASSA ABLOY.
"Security Metal Products is a very exciting
addition to the ASSA ABLOY Americas division, with uniquely
experienced management and a well deserved reputation for quality
and reliability. SMP will allow us to further enhance our ability
to serve our customers in the high-end security as well as the more
traditional sectors of the non residential market in the USA," says
Thanasis Molokotos, Head of the Americas Division and Executive
Vice President of ASSA ABLOY.
Sales are expected to reach SEK 150 M in 2010 with
a good EBIT margin. The acquisition is expected to be EPS accretive
from the date of the acquisition.
For more information, please contact:
Johan Molin, President and CEO, tel no: +46 8 506 485
Tomas Eliasson, CFO and Executive Vice President, tel no: +46 8 506
English (United States)
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