25 Jun 2008

ASSA ABLOY buys door company

Dagens Nyheter, June 25, 2008

ASSA ABLOY said on Wednesday that it acquired Rockwood Manufacturing, producer of standard and custom decorative and specialty door hardware. Terms were not disclosed. The family owned business Rockwood was founded in 1946 and employs about 150 people. ASSA ABLOY estimated Rockwood's sales at $48 million this year, corresponding to 290 million SEK and said the deal should immediately add to its earnings. "With Rockwood ASSA ABLOY takes a further important step in our strategy to offer complete door solutions on the commercial market in the United States", said Johan Molin, CEO and president of ASSA ABLOY in a press release.

Copyright: M-Brain