ASSA ABLOY sells Cardo Flow Solutions

ASSA ABLOY has through its subsidiary Cardo AB signed an agreement with the Swiss company Sulzer Ltd to sell Cardo Flow Solutions. The selling price is SEK 5,900 M on a cash and debt free basis. The agreement does not include Lorentzen & Wettre.

At the announcement of the public offer for Cardo on December 13, 2010, ASSA ABLOY communicated its intention to consolidate Cardo Entrance Solutions in ASSA ABLOY’s division Entrance Systems and to sell the other businesses, i.e. Cardo Flow Solutions and Lorentzen & Wettre, that do not long term fit ASSA ABLOY’s operations.

The transaction is expected to close during the second half of 2011 and is subject to regulatory approvals.

Malmö, Sweden, April 7 2011

Cardo AB (publ)

For further information, please contact:
Johan Molin, President and CEO ASSA ABLOY AB, tel no: +46 8 506 485 42
Tomas Eliasson, CFO and Executive Vice President ASSA ABLOY AB, tel no: +46 8 506 485 72

Tags:

About Us

Cardo is a world-leading supplier of industrial doors and logistics systems, wastewater treatment systems, process equipment for the pulp and paper industry and garage doors. Operations are pursued in the Group’s divisions: Door & Logistics Solutions, Wastewater Technology Solutions, Pulp & Paper Solutions and Residential Garage Doors. With sales of almost SEK 10 billion and more than 6,000 employees worldwide, Cardo delivers solutions that help to solve some the toughest challenges of our time in the fields of water, transportation and energy. Corporate headquarters are located in Malmö, Sweden.

Subscribe

Documents & Links