ASSA ABLOY: Acquisition of medeco completed

1 Jul 1998

MEDECO will further strengthen ASSA ABLOY in North America and the acquisition is a natural step in the overall strategy to lead the trend towards higher security. Besides giving ASSA ABLOY access to a leading cylinder brand in the US and thereby strengthening the package offered to new construction, MEDECO adds other related high security products. Furthermore, MEDECO's installed base will enhance ASSA ABLOY's position in the after market.
MEDECO will be consolidated from 1 July 1998.
ASSA ABLOY is the world's leading lock group with sales exceeding 8 000 MSEK. The number of employees is approx. 10 000. 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, Romania, Mexico and in the United States as well as within the segment for hotel security world-wide.
For further information, please contact
Göran Jansson, CFO, tel. +46-8-698 8572 alt. +46-70-748 8572
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