3 Dec 2007
ASSA ABLOY acquires leading UK manufacturer of high security steel doors
ASSA ABLOY has acquired Powershield Doors, a
leading manufacturer of high security steel doors. The Company is
based in Northern Ireland and it employs 90 people.
Powershield Doors designs, manufactures and
installs customised fire resistant, personnel access and high
security steel doors. The doors are installed in commercial,
industrial and public sector applications.
Tzachi Wiesenfeld, Head of the EMEA Division and
Executive Vice President of the ASSA ABLOY Group says: "Powershield
is an exciting addition to the group. Through this acquisition, the
EMEA Division reinforces its position as the leader in door-opening
solutions. Powershield adds to our specification strength, as it
would allow us to offer a complete product range, including locks,
hardware, electomechanics and high security doors."
Powershield is expected to reach a turnover of
GBP 10M in 2008. Powershield will be consolidated as of Dec 1st
2007 and this acquisition is expected to be EPS accretive from the
start.
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
ASSA ABLOY may be required to
disclose the information provided herein pursuant to the Securities
Markets Act. The information was submitted for publication at 11.00
CET on December 3, 2007.
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