February 01, 2007 02:45 ET

ASSA ABLOY acquires producer of door components

STOCKHOLM, SWEDEN -- (MARKET WIRE) -- February 1, 2007 --

ASSA ABLOY has acquired Pemko Manufacturing Company, a leading North American producer of door components.

Pemko Manufacturing Company designs and manufactures door components for sealing doors. Pemko is a family owned business established in 1952 and headquartered in Ventura, California. The company has approximately 330 employees.

"The acquisition of Pemko brings into ASSA ABLOY a well recognized and highly respected producer of door components. The Pemko product line is complementary to our existing product offerings and distribution channels," says Thanasis Molokotos, Head of Americas division.

Sales amounted to approximately USD 55 M in 2006 with a good EBIT-margin. The acquisition is expected to be EPS accretive from the date of the acquisition.

Further information can be obtained from
Martin Hamner, Director of Investor Relations and Group Controller,
Tel: + 46 8 506 485 79

Copyright © Hugin ASA 2007. All rights reserved.

Contact Information