SOURCE: ASSA ABLOY

June 25, 2008 03:58 ET

ASSA ABLOY has acquired Rockwood, a leading US manufacturer of door components

STOCKHOLM, SWEDEN--(Marketwire - June 25, 2008) -


ASSA ABLOY has acquired Rockwood Manufacturing Company, a leading US producer of standard and custom decorative and speciality door hardware.

Rockwood Manufacturing Company is a family owned business established in 1946 and headquartered in Rockwood, Pennsylvania. The company has approximately 150 employees.

"I am very pleased that Rockwood is joining the ASSA ABLOY Group and with the addition we take another important step in our strategy to provide total door solutions on the American non-residential market" says Johan Molin, President and CEO of ASSA ABLOY.

"Rockwood is an exciting addition to the ASSA ABLOY family with excellent management and a well deserved reputation for quality and innovation." says Thanasis Molokotos, Head of the Americas Division and Executive Vice President of ASSA ABLOY.

Sales is expected to reach USD 48 M in 2008 and the acquisition is expected to be EPS accretive from the date of the acquisition.

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

Press Release (PDF): http://hugin.info/1014/R/1230913/261533.pdf

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