ASSA ABLOY has agreed to acquire Interlock, New Zealand

28 Sep 2001

 
Interlock is the leading manufacturer and distributor of window and door security hardware in New Zealand. Interlock has a proven track record of developing innovative products and has developed successful export to Japan, UK and the US.
 
Interlock's strength lies in its innovative product and production technologies and, as such, will contribute significantly to ASSA ABLOY's philosophies of cross learning, benchmarking and cross-selling. Interlock will add a competitive range of window security products to its sister companies in the region. 
 
Interlock has sales of NZ$ 60 M. The operation has shown steadily improving profits over several years and shows high profitability. The company is based in Wellington with production units in Auckland and Wellington. The total number of employees amounts to 420.
 
The goodwill created by the acquisition will be tax deductible and amounts to approximately NZ$ 35 M. The acquisition will be EPS positive from the start.
 
 
 
                                                    For further information, please contact
Carl-Henric Svanberg, President & CEO, tel: +46 8 506 485 52,
or Göran Jansson, CFO, tel: +46 8 506 485 72
 
 
ASSA ABLOY AB (publ)
P.O. Box 70340, S-107 23 Stockholm
Tel: +46 8 506 485 00, Fax: +46 8 506 485 85
Visiting address: Klarabergsviadukten 90
 
www.assaabloy.com
 
 
The ASSA ABLOY Group is the world's leading manufacturer and supplier of locking solutions,
dedicated to satisfying end-user needs for security, safety and convenience. Current sales for the Group are in excess of
SEK 20 billion (approximately USD 2 billion) and the number of employees is more than 25,000.