Assa Abloy: divests CEDES in Switzerland
(CercleFinance.com) - Assa Abloy has signed an agreement to sell its sensor technology business CEDES in Switzerland to capiton.
CEDES is a leading company in the field of sensor technology in the lift and door industry. Its 2019 sales reacjed approximately 51 million euros.
CEDES now has the investment and expertise to develop and expand its core business of lift sensors, enabling us to focus our resources on our core business of automated doors, Assa Abloy said.
The sale will have a neutral effect on Assa Abloy's operating margin, it said.
Copyright (c) 2020 CercleFinance.com. All rights reserved.