SOURCE: ASSA ABLOY

February 09, 2011 12:12 ET

ASSA ABLOY: Acquisition of stake in Agta Record completed

STOCKHOLM, SWEDEN--(Marketwire - February 9, 2011) - After receiving anti-trust clearance ASSA ABLOY has completed the acquisition of 32.95 percent of the Swiss entrance automation company Agta Record from Somfy. As a result of this transaction ASSA ABLOY owns 37.9 percent of the shares in Agta Record.

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 2010 amounted to EUR 227 M.

The purchase price is EUR 25 per share and involves approximately 4.4 million shares.



Press release PDF : http://hugin.info/1014/R/1487200/422612.pdf



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Source: ASSA ABLOY via Thomson Reuters ONE

[HUG#1487200]

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