ASSA ABLOY Acquires Lock Distributors in Canada and Sweden.Business Editors STOCKHOLM, Sweden--(BUSINESS WIRE)--Dec. 27, 1999 ASSA ABLOY's North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. organization acquires, through 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. Canada Ltd., Arrow Lock Mfg. (Canada) Inc. to further strengthen its position in the Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. market. Arrow Canada is the independent sales and distribution company for the ASSA ABLOY owned Arrow Lock in Brooklyn, NY. The company has since its start in 1994 successfully established the Arrow brand in the Canadian market. The company has estimated sales exceeding CAD CAD: see computer-aided design. (Computer-Aided Design) Using computers to design products. CAD systems are high-speed workstations or desktop computers with CAD software. 1.5 M. Acquisition of AKI ASSA ABLOY's Swedish organization acquires, through Assa AB, the lock wholesaler AKI Lasgrossisten AB. AKI is a leading Swedish lock wholesaler with estimated sales for 1999 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. 110 M, approx US $13m. AKI's main customer group is locksmiths which is also Assa's most important distributor group. Through the acquisition Assa will strengthen its distribution capacity in Sweden. The take-over is expected to take place during the first quarter of 2000 whereby the two companies will be consolidated. The acquisitions will contribute to earnings per share as from 2000. The total purchase price amounts to SEK 30 M, approx. US $ 3.5m. 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 1999 the Group will report sales exceeding SEK 10 billion or US $ 1.2b and has about 12,000 employees. |
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