ASSA ABLOY acquires remaining shares in the Door Group, USA

2 Jul 2003

ASSA ABLOY paid SPX aggregate consideration of USD 80 million for SPX's 20% interest in the Door Group and other items including ordinary dividends and interest. The acquisition creates additional goodwill of USD 60 million, which is tax deductible. The transaction is accretive to EPS. The Door Group has developed well since the joint venture was created in 2001. A number of synergy based improvements have been accomplished.
Further information can be obtained from
Göran Jansson, Executive Vice President and Chief Financial Officer, tel: +46 8 506 485 72 or +46 70 698 85 72
Box 70340, SE 107 23 Stockholm
Tel: +46 8 506 485 00, Fax: + 46 8 506 485 85

The ASSA ABLOY Group is the world's leading manufacturer and supplier of locking solutions <br> 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.