ASSA ABLOY acquires Chinese fire and security door manufacturer Sanhe Metal
(Thomson Reuters ONE) -
ASSA ABLOY has signed an agreement to acquire the business of Shantou Longhu
Sanhe Metal Holdings Co. Ltd. in China. Sanhe Metal is a leading fire-rated and
security door manufacturer in the Guangdong province in south China.
"I am very pleased that Sanhe Metal is joining the ASSA ABLOY Group. Sanhe Metal
represents another important step in our strategy to grow market presence in
China and other emerging markets", says Johan Molin, President and CEO of ASSA
ABLOY.
"Sanhe Metal is a great addition to the ASSA ABLOY Asia Pacific division. It
complements very well our existing fire-rated door product offering in China,
both geographically and commercially. It will also be beneficial to our key
account management in the area", says Jonas Persson, Executive Vice President of
ASSA ABLOY and Head of Division Asia Pacific.
Sanhe Metal was established in 1983 and has 260 employees. The head office and
factory is located in Shantou, Guangdong province.
Sales are expected to reach CNY 120 M (approx SEK 130 M) in 2012 with a good
EBIT margin. The acquisition will be accretive to EPS from start.
The transaction is subject to regulatory approval and is expected to close
during Q2 2012.
For more information, please contact:
Johan Molin, President and CEO, tel no: +46 8 506 485 42
Carolina Dybeck Happe, CFO and Executive Vice President, tel no:
+46 8 506 485 72
Press release PDF:
http://hugin.info/1014/R/1607180/509720.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
[HUG#1607180]
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Datum: 02.05.2012 - 02:02 Uhr
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