The acquisition of Albany Door Systems, announced on October 28, 2011, has now been completed after regulatory approvals.
Albany Door Systems is one of the global leaders in high-speed industrial doors. The company has approximately 700 employees and sales is expected to reach USD 185 M (SEK 1,300 M) in 2012 with an EBIT margin of around 8%.
Albany Door Systems will be consolidated into division Entrance Systems as of January 11, 2012. The integration will start immediately with an estimated cost of SEK 150 M.
The acquisition will be accretive to EPS from start.
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
Press release PDF (http://hugin.info/1014/R/1576919/491540.pdf)
This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: ASSA ABLOY via Thomson Reuters ONE
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: ASSA ABLOY via Thomson Reuters ONE
HUG#1576919