ASSA ABLOY acquires lock distributors in Sweden and in Canada
Acquisition of Arrow Lock Mfg. (Canada) Inc.
ASSA ABLOY's North American organization acquires, through ASSA ABLOY Canada Ltd., Arrow Lock Mfg. (Canada) Inc. to further strengthen its position in the Canadian market. Arrow Canada is the independent sales and distribution company for the ASSA ABLOY owned Arrow Lock in Brooklyn, NY. The company has since its start in 1994 successfully established the Arrow brand in the Canadian market. The company has estimated sales exceeding CAD 1.5 M.
The take-over is expected to take place during the first quarter of 2000 whereby the two companies will be consolidated. The acquisitions will contribute to earnings per share as from 2000. The total purchase price amounts to SEK 30 M.
For further information, please contact
Göran Jansson, CFO, tel. +46-8-506 485 72 alt. +46-70-698 8572
ASSA ABLOY AB (publ)
P.O. Box 70340, S-107 23 Stockholm
Tel: Int+46-8-506 485 000, Fax: Int +46-8-506 485 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.