Ruko acquires the majority of the shares by next summer, year 2000, and the remaining part can be purchased to a fixed price in year 2003. Poul Sloth, President of Sloth & Co, remains as President for the company whilst Carl Trock, President of A/S Ruko, will assume responsibility as Chairman of the Board. Sloth & Co. was founded in 1921 by the current owner's grandfather. The company has 25 employees and estimated sales in 1999 of M 100 DKK.
The ASSA ABLOY Group is the world's leading manufacturer and supplier of locks and associated products,
dedicated to satisfying end-user needs for security, safety and convenience. In 1999 the Group will report
sales exceeding SEK 10 billion and has about 12 000 employees.
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 47,000 employees operating in more than 70 countries and sales of around SEK 71 billion.