KANAGAWA, Japan--(BUSINESS WIRE)--ALPHA Corporation (TOKYO:3434, ISIN:3126360001 - ALPHA), a leading Japanese manufacturer of locks and access systems, entered into a definitive agreement with ASSA ABLOY AB (ASSA ABLOY), a Sweden based global supplier of door opening solutions on March 2, 2016 to acquire ASSA ABLOY’s car access/security business (Car Lock Business) with operations in the Czech Republic, Mexico, Germany, Switzerland and the People’s Republic of China for €17.0 million.
ALPHA will strengthen its presence in the European market through the acquisition by establishing a manufacturing/supply base in Europe. ALPHA will also be able to maintain continuous growth through the synergies realizable by the complementary product sets and technological strengths of ALPHA and the Car Lock Business.
Regarding the operations of the Car Lock Business in each country, it is ALPHA’s intention to retain its current management and organization in order to realize their strengths to the maximum extent.
The acquisition will increase ALPHA’s global footprint by 5 sites and 3 countries to reach a total of 19 sites extending across 11 countries.
About ALPHA Corporation
Established in Japan in 1923, ALPHA Corporation, headquartered in Yokohama, Japan was the first company in Japan to manufacture key sets for the automotive industry. Its current product line includes key sets and door handles for automobiles, locks for housing as well as coin locker systems. It employs more than 4,500 personnel worldwide and had annual sales of ¥48.6 billion in the fiscal year ended March 31, 2015. True to its corporate message “Innovation for Access”, ALPHA continues to create new value for society through innovations in access control systems.
About ASSA ABLOY AB
Headquartered in Sweden and listed on the Stockholm Stock Exchange (Stockholm ASSA B), ASSA ABLOY is the global leader in door opening solutions and employs more than 46,000 employees worldwide.
