Assa Abloy Strengthens Its Position Further In The Area Of Special Locks

26 Apr 1999

 
  • Market leader with good profitability.
  • An important acquisition to support the trend towards higher security in commercial and public buildings.
  • Stremler will add know-how and products in an expanding market. segment in France and on export markets.
  • New distribution channels for products to shop fronts and public buildings.
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    Architectural facade  designs with door solutions in glass or aluminium framed glass partitions is a fast growing market segment with applications in hotels, shopping centres and public buildings.
     
    Stremler brings a complete new product range to the group in its special locks for aluminium framed doors and glass doors. It opens a new distribution channel leading directly to glass- and aluminium door manufacturers, installers and shop front manufacturers. This enables ASSA ABLOY to offer a complete product package to the commercial building and public building sectors as well as securing additional volumes of its high security cylinders.
     
    Stremler is located in Nouvion, about 200 km north-west of Paris and has approximately 70 employees. There are several historical and commercial ties between Stremler and Laperche - an ASSA ABLOY Group company located in the same region. The two companies will share management and administration resources.
     
    The company has a good profitability and the acquisition is expected to have a positive effect on the earning per share already from next year. The sales are estimated to reach MFFR 75 this year. The acquisition will be consolidated from 1st of June and creates goodwill of approximately MFFR 40.
     
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    For further information, please contact
    Göran Jansson, CFO, tel: +46-8-698 8572 alt. +46-70-748 8572 or
    Bo Dankis, President ASSA ABLOY France, tel. +33-3-25 42 30 71 alt. +33-6-85 52 79 14.
     
    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
     
    www.assaabloy.se
     
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    The ASSA ABLOY Group is the world's leading manufacturer and supplier of locks and associated products, dedicated to satisfying end-user needs for security, safety and convenience. In 1998 the Group reported sales of SEK 8,5 billion  and had about 11 000 employees.