October 18, 2010 02:31 ET

ASSA ABLOY acquires stake in Agta Record

STOCKHOLM, SWEDEN--(Marketwire - October 18, 2010) -

ASSA ABLOY has signed an agreement to acquire 32.95 percent of the Swiss entrance automation company Agta Record from Somfy

The Agta Record Group is a well established manufacturer of automatic entrance systems. The Group is headquartered in Fehraltorf, Switzerland and has 1,700 employees. Agta Record's sales for 2009 amounted to EUR 222 M.

"The stake in Agta Record further strengthens our successful expansion within the entrance automation area. We are supportive of Agta Record's strategy and management and will seek to engage with majority and other shareholders regarding acquisition of additional shares," says Johan Molin, President and CEO of ASSA ABLOY.

The purchase price is EUR 25 per share and involves approximately 4.4 million shares. The acquisition is subject to anti-trust approvals.


Press release PDF:

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Source: ASSA ABLOY via Thomson Reuters ONE

Contact Information

  • 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