Press release
ASSA ABLOY acquires Australian market leader in fire rated doors
ASSA ABLOY has signed an agreement to acquire the Australian-based company Pyropanel, a leading producer of specialised doors and fire-rated products.
Pyropanel was founded in 1976 and today has 75 employees with regional operations in Victoria, New South Wales and Queensland, Australia.
Pyropanel's product offering along with ASSA ABLOY's specification strength is expected to create further growth opportunities and strengthen the company's position in the commercial segment.
Pyropanel's sales reached AUD 19 million in 2006 with a good EBIT-margin and the acquisition is expected to be EPS accretive from the date of acquisition. Pyropanel will be consolidated on February 1, 2007 into division Asia Pacific.
Further information can be obtained from
Martin Hamner, Director of Investor Relations and Group Controller, Tel: +46 8 506 485 79