Assa Abloy: buys New Zealand commercial door maker
(CercleFinance.com) - Assa Abloy, the world's biggest lock maker, said on Thursday that it has bought New Zealand's Pacific Door Systems, a maker of commercial doors and window systems.
The terms of the deal were not disclosed, although the Swedish company said in a statement that the acquired firm - which is based in Wellington - has around 80 employees and is expected to generate sales of 125 million Swedish kronor (about 12 million euros) this year.
Assa Abloy said that the acquisition is part of its strategy to strengthen its position in mature markets through adding complementary products and solutions to its core business.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The terms of the deal were not disclosed, although the Swedish company said in a statement that the acquired firm - which is based in Wellington - has around 80 employees and is expected to generate sales of 125 million Swedish kronor (about 12 million euros) this year.
Assa Abloy said that the acquisition is part of its strategy to strengthen its position in mature markets through adding complementary products and solutions to its core business.
Copyright (c) 2018 CercleFinance.com. All rights reserved.