Press release
ASSA ABLOY signs agreement to acquire majority position in Sokymat S.A.
The acquisition strengthens ASSA ABLOY Identification Technology Group's position in RFID solutions in the global market and provides it with important synergies and high technology manufacturing and development strength.
The company is based in Granges, Switzerland with subsidiaries in Germany, France and UK. Sokymat has important trading relationships worldwide.
Sokymat products are built utilizing highly efficient and automated production processes in a modern plant. The company has an expected sales of CHF 36M for 2003. The acquisition is accretive to EPS from its inception.
ASSA ABLOY has also entered into an agreement with Mr. Åke Gustafson the Founder of Sokymat to acquire important patents and other Intellectual Property portfolio.
The transactions will be closed in the next few weeks.
Further information can be obtained from<br><br>Göran Jansson, Executive Vice President and Chief Financial Officer, tel: +46 8 506 485 72 <br><br>ASSA ABLOY AB (publ)<br>Box 70340, SE 107 23 Stockholm<br>Tel: +46 8 506 485 00, Fax: + 46 8 506 485 85<br>www.assaabloy.com<br> <br>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.<br>