Press release
ASSA ABLOY acquires European card manufacturer
Schwab & Partner was founded in 2000 and has since then grown to become one of Europe's largest card manufacturers. From a manufacturing base in Innsbruck, Austria, it serves mainly the Central European segments for loyalty, hotels, ski, public transportation, event ticketing and access control. The company has approximately 80 employees.
With the acquisition, ASSA ABLOY ITG will strengthen its contactless card manufacturing and customization capacity, shorten delivery times as well as enable the global sales forces to offer greater variety of technology cards.
Schwab & Partner's annual sales amount to EUR 13M with a good EBIT-margin and the acquisition is expected to be EPS accretive from the date of the acquisition.
Martin Hamner, Director of Investor Relations and Group Controller, Tel: +46 8 506 485 79
ASSA ABLOY AB (publ) <br>P.O. Box 70340, SE-107 23 Stockholm <br>Phone: +46-8-506 485 00 <br>Fax: +46-8-506 485 85 <br><br>www.assaabloy.com <br><br>ASSA ABLOY is the world's leading manufacturer and supplier of locking solutions, meeting tough end-user demands for safety, security and user friendliness. The Group has some 30,000 employees and annual sales of about EUR 3 billion.