Information  X 
Enter a valid email address

ASSA ABLOY (0H6U)

  Print      Mail a friend

Wednesday 29 July, 2009

ASSA ABLOY

ASSA ABLOY acquires Ditec, a global leader in e...





ASSA ABLOY has signed an agreement to acquire the Italian based Ditec
Group, a global leader in entrance automation products for
pedestrian, sectional, high speed doors and gates.

Ditec was established in 1974. Company headquarters are located in
Caronno, close to Milano, Italy. The Ditec Group has 550 employees
worldwide.

"I am very pleased that Ditec is joining the ASSA ABLOY Group. The
acquisition of Ditec is an important step in our growth strategy into
the fast growing and profitable market segment of door automatics.
Also very pleasing is that Ditec adds a strategic reinforcement to
our indirect sales channel both for the mature markets in Europe and
North America and for the expanding entrance automation business on
the emerging markets" says Johan Molin, President and CEO of ASSA
ABLOY.

"With Ditec, we become truly a world-leader in entrance automation by
complementing our existing product portfolio. I am very pleased to
welcome the Ditec team to the Entrance Systems division. With this
acquisition, we also become the clear no 1 player in the Italian
market for automatic doors and we add an important indirect sales
channel" says Juan Vargues, Executive Vice President of ASSA ABLOY
and Head of Division Entrance Systems.

Sales are expected to reach EUR 80 M in 2009 and the acquisition is
expected to be slightly dilutive to earnings during 2009. The
transaction is expected to close during the third quarter of 2009.


For more information, please contact:
Johan Molin, President and CEO, tel no: +46 8 506 485 42
Tomas Eliasson, CFO and Executive Vice President, tel no: +46 8 506
485 72


This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement.




        

a d v e r t i s e m e n t