ASSA ABLOY sells PACA ascenseur in France to KONE

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Feb 02, 2024, 02:25 ET

STOCKHOLM, Feb. 2, 2024 /PRNewswire/ -- ASSA ABLOY has sold its elevator maintenance business PACA ascenseur ("PACA") in France to KONE. PACA was part of the acquisition of agta record in 2020.

PACA is an elevator maintenance business located in Southern France. PACA was founded in 1995 and has some 210 employees. Sales in 2022 amounted to about 30 MEUR.

"I find it satisfying that with KONE, PACA and its employees and customers get a committed long-term owner, creating new opportunities for the future and I wish them every success," says Nico Delvaux, President and CEO of ASSA ABLOY.

"In line with our strategy, we continue to focus on our core business portfolio. We believe we have found a good home for the PACA business, which will receive full attention from its new owners to support further development," says Massimo Grassi, Executive Vice President of ASSA ABLOY and Head of Entrance Systems Division.

The transaction will have a positive effect on ASSA ABLOY´s operating margin going forward. The capital result is expected to be insignificant.

For more information, please contact:

Nico Delvaux, President and CEO, tel. no: +46 8 506 485 82
Erik Pieder, CFO and Executive Vice President, tel. no: +46 8 506 485 72
Björn Tibell, Head of Investor Relations, tel. no: +46 70 275 67 68, e-mail: [email protected]

About ASSA ABLOY

The ASSA ABLOY Group is the global leader in access solutions. The Group operates worldwide with 52,000 employees and sales of SEK 121 billion. The Group has leading positions in areas such as efficient door openings, trusted identities and entrance automation. ASSA ABLOY's innovations enable safe, secure and convenient access to physical and digital places. Every day, we help billions of people experience a more open world.

The following files are available for download:

https://mb.cision.com/Main/7333/3921203/2578727.pdf

Press release (PDF)

SOURCE ASSA ABLOY