ASSA ABLOY acquires Australian market leader in fire rated doors

ASSA ABLOY has signed an agreement to acquire the Australian-based company Pyropanel, a leading producer of specialised doors and fire-rated products. 
 
Pyropanel was founded in 1976 and today has 75 employees with regional operations in Victoria, New South Wales and Queensland, Australia.
 
Pyropanel's product offering along with ASSA ABLOY's specification strength is expected to create further growth opportunities and strengthen the company's position in the commercial segment.
 
Pyropanel's sales reached AUD 19 million in 2006 with a good EBIT-margin and the acquisition is expected to be EPS accretive from the date of acquisition. Pyropanel will be consolidated on February 1, 2007 into division Asia Pacific.
 
Further information can be obtained from
 
Martin Hamner, Director of Investor Relations and Group Controller, Tel: +46 8 506 485 79

About Us

ASSA ABLOY is the global leader in door opening solutions and offers mecahnical and electromechanical locks, digital door locks, security doors, entrance automation, hotel security and secure identity solutions, primarily in identity and access management, as well as a number of other related products and services. Since its formation in 1994, ASSA ABLOY has grown from a regional company into an international Group with some 47,500 employees operating in more than 70 countries and sales of SEK 76 billion.

Subscribe

Documents & Links