SOURCE: ASSA ABLOY

November 13, 2009 06:37 ET

ASSA ABLOY has acquired Portsystem 2000, one of Sweden's leading manufacturers of industrial doors

STOCKHOLM, SWEDEN--(Marketwire - November 13, 2009) -


ASSA ABLOY has acquired Portsystem 2000, specialized in end-user applications of industrial doors and docking systems. The company is headquartered in Habo close to Jönköping, Sweden.

Portsystem 2000 was founded in 1987 and has regional offices in Habo, Stockholm, Gothenburg and Malmö. With its 80 employees the company is expected to reach a turnover of about SEK 125 M in 2009.

"With this acquisition we continue the very positive expansion phase in our Entrance Systems Division both in terms of sales channels, products and services" says Johan Molin, President and CEO of ASSA ABLOY.

"Portsystem 2000 offers an attractive fit with the Besam model of serving large logistics and retail companies with customization and service of entrance automation applications such as automatic doors, industrial doors and docking stations" says Juan Vargues, Executive Vice President of ASSA ABLOY and Head of Division Entrance Systems.

The acquisition will be EPS accretive from start.

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

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Press release (PDF): http://hugin.info/1014/R/1354906/328670.pdf

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