ASSA ABLOY Acquires Pacific Door Systems in New Zealand

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Dec 20, 2018, 02:28 ET

STOCKHOLM, Dec. 20, 2018 /PRNewswire/ --

ASSA ABLOY has acquired Pacific Door Systems, a leading manufacturer of commercial doors & window systems in New Zealand.

"I am very pleased to welcome Pacific Door Systems and their employees into the ASSA ABLOY Group. This acquisition delivers on our strategy to strengthen our position in the mature markets through adding complementary products and solutions to our core business," says Nico Delvaux, President and CEO of ASSA ABLOY.

"Pacific Door Systems is an excellent addition to the Asia Pacific Division and complements our existing door opening solutions offering for our customers. The acquisition also provides synergy opportunities and an attractive potential to accelerate our growth in New Zealand", says Anders Maltesen, Executive Vice President of ASSA ABLOY and Head of Division Asia Pacific.

Pacific Door Systems was established in 1992 and has approximately 80 employees. The head office is located in Wellington, New Zealand.

Sales for 2018 are expected to reach about NZD 20 million (approx. SEK 125 million) with a good EBIT margin and the acquisition will be accretive to EPS from start.

For more information, please contact:
Nico Delvaux, President and CEO, tel. no: +46 8 506 485 82
Björn Tibell, Head of Investor Relations, tel. no: +46 70 275 67 68

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 47,500 employees, operations in more than 70 countries and sales of SEK 76 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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http://news.cision.com/assa-abloy/r/assa-abloy-acquires-pacific-door-systems-in-new-zealand,c2704820

The following files are available for download:

https://mb.cision.com/Main/7333/2704820/966500.pdf

Press release (PDF)

SOURCE ASSA ABLOY