17 Dec 2009
ASSA ABLOY has acquired Cerracol, leader in the Central American lock market
ASSA ABLOY has acquired
Cerraduras de Colombia S.A., Cerracol, market leader in the Central
American lock market, based in Colombia.
Cerracol is a vertically integrated producer of Yale branded
locks and hardware. The company was established in 1964, is
headquartered in Bogotá, Colombia, and has approximately 400
employees.
"I am very pleased that
Cerracol is joining the ASSA ABLOY Group and with this addition we
take another important step in our strategy to grow our presence in
the emerging markets, this time in the fast growing Central
American market," says Johan Molin, President and CEO of ASSA
ABLOY.
"Cerracol is an exciting addition to the ASSA ABLOY
family with excellent management and a well deserved reputation for
quality and reliability in providing Yale branded products,"
says Thanasis Molokotos, Head of the Americas
Division and Executive Vice President of ASSA ABLOY.
Sales are expected to reach
USD 20 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 42
Tomas Eliasson, CFO and Executive Vice President,
tel no: +46 8 506 485 72
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