Press release
ASSA ABLOY acquires Valli&Valli, a leading Italian manufacturer of design handles
ASSA ABLOY has signed an agreement to acquire Valli&Valli, a leading Italian manufacturer of design handles. The company is based near Milan, employs 200 people and is expected to reach a turnover of more than EUR 30 M in 2008.
"Valli&Valli is a great addition to ASSA ABLOY, bringing to us an exciting product range and a very well known brand, used by designers and architects worldwide. This acquisition will strengthen ASSA ABLOY's leadership position in the Italian market and it would also re-enforce the Group's specification efforts in many other countries." says Tzachi Wiesenfeld, Executive Vice President ASSA ABLOY and Head of the EMEA Division.
The transaction is expected to close during Q2 2008. The 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 08:00 CET on January 18.