ASSA ABLOY acquires producer of door components

ASSA ABLOY has acquired Pemko Manufacturing Company, a leading North American producer of door components.
 
Pemko Manufacturing Company designs and manufactures door components for sealing doors. Pemko is a family owned business established in 1952 and headquartered in Ventura, California. The company has approximately 330 employees.
 
 "The acquisition of Pemko brings into ASSA ABLOY a well recognized and highly respected producer of door components. The Pemko product line is complementary to our existing product offerings and distribution channels," says Thanasis Molokotos, Head of Americas division.
 
Sales amounted to approximately USD 55 M in 2006 with a good EBIT-margin. The acquisition is expected to be EPS accretive from the date of the acquisition.
 
 
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 47,000 employees operating in more than 70 countries and sales of around SEK 71 billion.

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