ASSA ABLOY acquires Mercor SA's fire Doors business
STOCKHOLM, Sweden, Sept. 6, 2013 (GLOBE NEWSWIRE) --
ASSA ABLOY has signed an agreement to acquire Mercor SA's fire doors business.
Mercor SA is a leading Polish manufacturer of security and fire doors in East
Europe, with a strong position in its key domestic markets in Poland, Czech
Republic and Slovakia.
"I am very pleased to welcome Mercor SA's fire doors business into the ASSA
ABLOY Group. The acquisition represents another important step in our strategy
to grow market presence in Emerging Markets," says Johan Molin, President and
CEO of ASSA ABLOY.
"Mercor's fire doors business is an attractive addition to the EMEA division, as
part of our strategy to offer complete door opening solutions to our customers.
It will also significantly reinforce our market position in East Europe," says
Tzachi Wiesenfeld, Executive Vice President of ASSA ABLOY and Head of the EMEA
The acquired business was founded in 1988 and is based in Gdansk, Poland with
operations in Poland, Czech Republic, Slovakia, Ukraine and export to several
other European countries. The company employs 550 people.
Sales in the financial year ending 31 March 2013 was PLN 180 M (approx SEK 370
M) with a good EBIT margin. The acquisition is EPS accretive from start.
The transaction is subject to regulatory approval and is expected to close
during Q4 2013.
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/1727684/576841.pdf
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