ASSA ABLOY’s acquisition of Adams Rite has been cleared and is now complete
27 March 2006, ASSA ABLOY has received regulatory clearance in the US to acquire Adams Rite Manufacturing Co. in accordance with the agreement signed in February 2006. The acquisition is now complete.
Adams Rite designs and manufactures mechanical and electrical security products. The Company has a strong brand and product offering in the aluminum door channels that are complementary to ASSA ABLOY.
The Company is headquartered in Pomona, California where it has both its corporate headquarters and main operating facility, which focuses on assembly. In the UK the Company is a distributor of mechanical and electrical security products for commercial aluminum doors.
Annual sales amount to approximately USD 50 M with a good EBIT-margin. The acquisition is expected to be EPS neutral during 2006 and positive from 2007. The Company has approximately 300 employees. Restructuring costs in connection with the acquisition are expected to amount to approximately USD 3 M.
ASSA ABLOY is the world’s leading manufacturer and supplier of locking solutions, meeting tough end-user demands for safety, security and user friendliness. The Group has some 30,000 employees and annual sales of about EUR 3 billion.
- Contact Information
- Martin Hamner
- Director of Investor Relations and Group Controller
- ASSA ABLOY
- Contact via E-mail
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