March 25, 2011 03:19 ET

ASSA ABLOY: Competition authorities approves Swesafe acquisition

STOCKHOLM, SWEDEN--(Marketwire - March 25, 2011) -

The competition authorities has approved the Swesafe acquisition. Swesafe is the largest locksmith business in Sweden and the acquisition will be completed in April 2011.

Swesafe will be run as a completely separate unit within ASSA ABLOY Scandinavia and Göran Burenstam Linder will continue as Managing Director. Swesafe will become a sister company to both ASSA AB and Copiax AB.

2010 sales was SEK 443 M. Swesafe has 24 branches and more than 300 employees. The acquisition will be slightly accretive to earnings per share from start.

Press release PDF:

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that:

(i) the releases contained herein are protected by copyright and other applicable laws; and

(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.

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