Source: Assa Abloy
In the past month Assa Abloy has been busy. They’ve recently had expansions into Brazil and Chile and now they’re traveling to the other side of the world. Assa Abloy’s latest acquirement is with the Chinese manufacturer, Digi Electronic Lock. Digi Electronic Lock has been around since 1995 and has some 620 employees. The main office and factory are located in Guangzhou, South China.
Johan Molin, President and CEO of ASSA ABLOY said, “I am very pleased to have Digi Electronic Lock and its competent personnel joining the ASSA ABLOY Group. Digi Electronic Lock is another strategic step in our expansion into new growth segments in China and other emerging markets.”
Magnus Kagevik, Executive Vice President of ASSA ABLOY and Head of Division Asia Pacific also chimed in on the further expansion, “the acquisition of Digi Electronic Lock is a great addition to our current offering within the rapidly growing digital door lock segment. Keylock is the leading brand in China for digital door locks with a comprehensive product range for the mid to low segments which complements our current premium products.”
2015 sales are predicted to reach CNY 250 M (approx. SEK 300 M) with a good EBIT margin. The acquisition should be closed and finalized by the end of the year.
Assa Abloy is a global leader in door opening solutions. Since 1994, Assa Abloy has grown to be a powerful international group with about 43,000 employees. Be sure to check out two of their companies Securitron and Rockwood for your commercial door hardware needs.