Assa Abloy: completes acquisition in Turkey

(CercleFinance.com) - Assa Abloy announced on Thursday that it has reached an agreement to acquire VHS Plastik Metal, a Turkish manufacturer of door and window systems that is based in Turkey.


The acquisition, which will strengthen the Swedish locksmith giant's position in the local market, is expected to be completed in Q4 this year.

Founded in 1997 and based in Silivri, near Istanbul, VHS has about 440 employees and generates annual sales of around 14 million euros.



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