ASSA ABLOY's French operation acquires Stremler S.A.STOCKHOLM Stockholm (stŏk`hôlm'), city (1995 pop. 692,954), capital of Sweden and of Stockholm co., E Sweden, situated where Lake Mälaren flows into the Baltic Sea. , Sweden--(BUSINESS WIRE)--April 26, 1999-- ASSA ABLOY's French operation acquires Stremler S.A. - the leading French manufacturer of locks for glass - and aluminium frame doors. With the acquisition ASSA ABLOY The ASSA ABLOY Group is a Swedish company. The group is the world's leading manufacturer and supplier of locks. ASSA ABLOY was formed in 1994 when ASSA Ab was detached from Swedish security firm Securitas AB. strengthens its position further in the area of special locks. Market leader with good profitability. An important acquisition to support the trend towards higher security in commercial and public buildings. Stremler will add know-how know-how n. The knowledge and skill required to do something correctly. See Synonyms at art1. know-how Noun Informal the ability to do something that is difficult or technical and products in an expanding market. segment in France and on export markets. New distribution channels for products to shop fronts and public buildings. Architectural facade facade (fəsäd`), exterior face or wall of a building. The term implies ordered placement of its openings and other features and thus seems inapplicable to a wall without design. designs with door solutions in glass or aluminium framed glass partitions is a fast growing market segment with applications in hotels, shopping centres and public buildings. Stremler brings a complete new product range to the group in its special locks for aluminium framed doors and glass doors. It opens a new distribution channel leading directly to glass- and aluminium door manufacturers, installers and shop front manufacturers. This enables ASSA ABLOY to offer a complete product package to the commercial building and public building sectors as well as securing additional volumes of its high security cylinders. Stremler is located in Nouvion, about 200 km north-west of Paris and has approximately 70 employees. There are several historical and commercial ties between Stremler and Laperche - an ASSA ABLOY Group company located in the same region. The two companies will share management and administration resources. The company has a good profitability and the acquisition is expected to have a positive effect on the earning per share Noun 1. earning per share - the portion of a company's profit allocated to each outstanding share of common stock net income, net profit, profit, profits, earnings, lucre, net - the excess of revenues over outlays in a given period of time (including depreciation already from next year. The sales are estimated to reach MFFR 75 this year. The acquisition will be consolidated from June 1, and creates goodwill of approximately MFFR 40. The ASSA ABLOY Group is the world's leading manufacturer and supplier of locks and associated products In the context of fuels and lubricants, a petroleum or chemical product used as a hydraulic fluid, corrosion preventive, liquid propellant, or specialized product, required for the operation, maintenance, or storage of military equipment. , dedicated to satisfying end-user needs for security, safety and convenience. In 1998 the Group reported sales of SEK SEK In currencies, this is the abbreviation for the Swedish Krona. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 8,5 billion and had about 11 000 employees. www.assaabloy.se |
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