ASSA ABLOY reorganizes for greater flexibility and profit

29 Apr 2003

"This is a natural step now that we are moving our primary focus from acquisitions to organic growth and improved profitability," says President and CEO Bo Dankis.
 
Since the Group was formed in 1994, ASSA ABLOY's development has been based on a three-step strategy:
 
1)  Build a global base with leading positions in all parts of the world
2)  Exploit synergy effects resulting from size and global presence
3)  Focus on customer benefit
 
The Group has grown from a regional company with sales of 3 billion SEK to a worldwide group, mainly through acquisitions, with 30,000 employees and sales of 25 billion SEK.
 
"There are still some supplementary acquisitions to be made," Bo Dankis says. "But we have more or less completed the first phase of our strategy. We have a strong global presence and we are the world's leading lock company.
 
"We are now moving on to focus on synergy effects and increased customer benefit. And our organization will become more flexible and perceptive to market changes and customer needs in the light of a more competitive environment, especially from the low-cost countries."
 
The new regions are:
 
§         Americas
Executive Vice President Clas Thelin, currently head of ASSA ABLOY North America.
 
§         EMEA (Europe, Middle East and Africa)
Executive Vice President Hans Johansson, currently head of ASSA ABLOY in Scandinavia.
 
§         Asia Pacific
Executive Vice President Geoff Norcott, currently head of ASSA ABLOY UK and ASSA ABLOY South Pacific.
 
§         Global Business (Door Automatics, Identification and solutions for the international hospitality industry)
Executive Vice President Göran Jansson, currently Chief Financial Officer, a position he retains.
 
The new Management Group consists of President and CEO Bo Dankis, Clas Thelin,
Hans Johansson, Geoff Norcott, Göran Jansson and Åke Sund, who is responsible for Market and Business Development. 
                       
 
Further information can be obtained from
Bo Dankis, President and CEO, tel: +46 8 506 485 42
Göran Jansson, EVP and CFO, tel: +46 8 506 485 72
Martin Hamner, Director of Investor Relations and Group Controller, tel: + 46 8 506 485 79
 
ASSA ABLOY AB (publ)
Box 70340, SE 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. The Group has about 30,000
employees and annual sales of approximately EUR 3 billion.