ASSA ABLOY Acquires MAB, Italian Market Leader in Door Closers.Business Editors STOCKHOLM, Sweden--(BUSINESS WIRE)--July 2, 2001 -- MAB Masellis SpA is the Italian market leader in overhead door closers and floor springs -- MAB is expected to achieve sales of EUR 18 M this year, with high profitability -- The acquisition strengthens ASSA ABLOY's position in Italy considerably -- Floor springs is a growing product line currently missing from ASSA ABLOY's portfolio -- Considerable cross-sales opportunities within the Group -- Expected to add to earnings per share from 2002 Through the acquisitions of the Yale Intruder An attacker that gains, or tries to gain, unauthorized access to a system. See attacker, intrusion and IDS. Security Group and effeff, 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. has established a good position in Italy. The acquisition of MAB strengthens this position considerably and increases opportunities to develop the market, including the introduction of products for higher levels of security. ASSA ABLOY has the ambition of establishing a leading position and offering a complete range of products in all major markets. Door closers form an important part of a lock package, providing secure operation of a door. The Maselli family founded MAB in 1948. The company, with 136 employees, is located in Bologna Bologna (bōlô`nyä), city (1991 pop. 404,378), capital of Emilia-Romagna and of Bologna prov., N central Italy, at the foot of the Apennines and on the Aemilian Way. close to two other ASSA ABLOY manufacturing units - Nuova F.E.B. and Yale Corni. Over the years MAB has built a leading position in Italy in the door closer segment and has successfully developed export business in Europe and the Middle East. There are two main types of door closers, overhead-mounted and floor springs. The company's position is particularly strong in floor springs. A floor spring is a concealed con·ceal tr.v. con·cealed, con·ceal·ing, con·ceals To keep from being seen, found, observed, or discovered; hide. See Synonyms at hide1. door closer installed in the floor and is widely used with glass doors, a growing product segment. More than 60% of sales are to the replacement sector, for renewing worn-out floor springs with a product having identical dimensions. MAB's sales are expected to reach 18 million EUR EUR In currencies, this is the abbreviation for the Euro. 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. in 2001. The company is operating with high profitability, and the acquisition is expected to add to ASSA ABLOY's earnings per share from 2002. The acquisition will create goodwill of 9 million EUR. There are also cross-selling synergies to be developed. Besides the replacement throughout the Group of similar products currently sourced externally, there is interest from ASSA ABLOY companies worldwide in adding MAB products to their portfolios. ASSA ABLOY AB (publ) P.O. Box 70340, S-107 23 Stockholm Tel: +46 8 506 485 00, Fax: +46 8 506 485 85 Visiting address: Klarabergsviadukten 90 www.assaabloy.com 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. Current sales for the Group are in excess 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. 20 billion (approximately USD USD In currencies, this is the abbreviation for the U.S. Dollar. 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. 2 billion) and the number of employees is more than 20,000. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net ----------------------- The following files are available for download To receive a file transmitted over a network. In any communications session, "download" means receive, and "upload" means send. The download/upload often implies a big/little scenario, in which data is being downloaded from the "big" server into the "little" user's computer. : http://www.bit.se/bitonline/2001/07/02/20010702BIT00700/bit0001.doc ------------------------------------------------------------------- http://www.bit.se/bitonline/2001/07/02/20010702BIT00700/bit0001.pdf ------------------------------------------------------------------- |
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