ASSA ABLOY's Pan Pan acquisition receives anti trust clearance
(Thomson Reuters ONE) - ASSA ABLOY has after a longer than expected process received the anti trustclearance for the acquisition of Pan Pan.Before consolidating Pan Pan into the ASSA ABLOY Group a business license isrequired from the local Chinese authorities. The business license is expectedduring the first quarter of 2010.Pan Pan was established in 1982 and is headquartered in Yingkou, north ofBeijing. The Company manufactures in six locations in China and has more than4,000 employees. Pan Pan has an annual capacity to produce 2.4 million highsecurity doors in the form of fire, anti theft, armored, corrosion proof andstandard high security doors. The company has an extensive well establisheddistribution network across China and complements well ASSA ABLOY's other doorcompanies on the Chinese market.For more information, please contact:Johan Molin, President and CEO, tel no: +46 8 506 485 42Tomas Eliasson, CFO and Executive Vice President, tel no: +46 8 506 485 72[HUG#1375042] Press release (PDF): http://hugin.info/1014/R/1375042/337243.pdf
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Datum: 20.01.2010 - 02:35 Uhr
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