12 Sep 2008
ASSA ABLOY acquires South Korean lock manufacturer
Dagens Industri 12 September 2007
Lock manufacturer ASSA ABLOY acquires the majority of the stock in South Korean Irevo at a cost of SEK 170m. ASSA ABLOY has placed a bid for Irevo earlier, but at that time Irevo failed to meet the demands and the acquisition did not fall through. Johan Molin, CEO ASSA ABLOY, says that the acquisition means ASSA ABLOY controls a majority of Irevo, which means that the company can carry out its planned strategies and bring out synergism. ASA ABLOY has yet to decide whether it will acquire the entity of Irevo.
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