The ASSA ABLOY Group will further strengthen its position for high security and electromechanical locks in Canada through the acquisition. ABLOY Canada, with its head office in Montreal, has been an independent business partner of the Group for 30 years, responsible for the sales of ABLOY products in this market.

 

ABLOY is one of the leading brands of high security locking products and electromechanical locks in the country.

 

With an expected strong development of this segment of the market and with additional focus on electromechanical products, the acquisition offers an opportunity for the Group to play a more active role in this development.

 

The company has estimated sales of CAD 2.8 million for 1998. It employs 20 people in Montreal and Toronto. The goodwill amounts to approximately CAD 1 million.

 

 

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ASSA ABLOY is the world's leading lock group with sales exceeding 8 000 MSEK. The number of employees is approx. 10 000. ASSA ABLOY develops, manufactures and markets mechanical, industrial, electromechanical and electronic locks and hotel locks. The group has market leading positions in Sweden, Finland, Norway, Denmark, Germany, France, Belgium, the Czech Republic, Romania and in the United States as well as within the segment for hotel security worldwide.

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For further information, please contact

Carl-Henric Svanberg, President & CEO, tel: +46-70-510 0551

or Göran Jansson, CFO, tel. +46-70-748 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