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