STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
ASSA ABLOY (STO:ASSAB)
ASSA ABLOY has acquired Mauer, a leading manufacturer of cylinders and locks and a leading supplier of locking products in Bulgaria.
"I am very pleased to welcome Mauer into the ASSA ABLOY Group. The acquisition of Mauer delivers on our strategy to grow our presence in emerging markets", says Johan Molin, President and CEO of ASSA ABLOY.
”Mauer is an innovative business, especially in relation to cylinders, with a strong track record and a leading position in the Bulgarian market”, says Tzachi Wiesenfeld, Executive Vice President of ASSA ABLOY and Head of the EMEA division.
Mauer was established in 1989, with the company’s main production facilities located in Varna and sales offices located in Plovdiv, Sofia and Pleven. The Group has approximately 200 employees.
Sales for 2016 are expected to reach EUR 11 M (approx. SEK 100 M) and the acquisition will be accretive to EPS from start.
About ASSA ABLOY
ASSA ABLOY is the global leader in door opening solutions, dedicated to satisfying end user needs for security, safety and convenience. Since its formation in 1994, ASSA ABLOY has grown from a regional company into an international group with about 46,000 employees, operations in more than 70 countries and sales of SEK 68 billion. In the fast-growing electromechanical security segment, the Group has a leading position in areas such as access control, identification technology, entrance automation and hotel security.
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