ASSA ABLOY acquires Danish wholesaler
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.
For further information, please contact
Carl-Henric Svanberg, President & CEO, tel: +46-8-698 8552 alt. +46-7-510 0551,
or Göran Jansson, CFO, tel. +46-8-698 8572 alt. +46-70-698 8572
ASSA ABLOY AB (publ)
P.O. Box 70340, S-107 23 Stockholm
Tel: Int+46-8-698 85 70, Fax: Int +46-8-698 85 85
Visiting address: Klarabergsviadukten 90
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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.