ASSA ABLOY: Acquisition of SECURITRON MAGNALOCK completed

 

Securitron Magnalock Corporation is one of the leading manufacturers of magnetic locks and electromechanical exit devices in the US.

 

Securitron is an important addition to the group, as it will add a significant group of electromechanical products as well as open new distribution channels for these products in general. The electromechanical lock market is the fastest growing segment of the overall lock market as these products are important components in any electronic security system. The magnetic lock market is most developed in the US, but with new innovative products and the increased use of integrated security systems and electronic access control systems, these products will gradually become more important also in Europe.

 

Securitron Magnalock will be consolidated from 22 October 1998.

 

ASSA ABLOY is the world's leading lock group with sales exceeding 8 000 MSEK. The number of employees is approx. 9 500. ASSA ABLOY develops, manufactures and markets mechanical, industrial, electromechanical and electronic locks and hotel locks. The group has market leading positions in Sweden, Finland, Norway, Denmark, Germany, France, Belgium, the Czech Republic and in the United States as well as within the segment for hotel security world-wide.

 

ASSA ABLOY AB (publ)

P.O. Box 70340, S-107 23 Stockholm

 

Tel: Int+46-8-698 85 70, Fax: Int +46-8-698 85 85

Visiting address: Klarabergsviadukten 90