ASSA ABLOY Increases Its Ownership in KESO AG of Switzerland.Business Editors STOCKHOLM, Sweden--(BUSINESS WIRE)--April 19, 2001 -- KESO is a leading Swiss cylinder manufacturer recognized throughout the world -- The company has sales of CHF 50 M, of which 50 percent are exports -- KESO's flat key cylinder concept strengthens ASSA ABLOY's total offering -- ASSA ABLOY is increasing its ownership from 35 to 65 percent -- Remaining shares will be acquired by the end of 2003 KESO is a leading Swiss manufacturer of mechanical and electronic high- security cylinders for doors and industrial applications. The company has sales of CHF CHF In currencies, this is the abbreviation for the Swiss Franc. 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. 50 M and has built a reputation as one of the world's leading producers of high-quality locks and cylinders. 50 percent of the company's sales are currently exported to a number of countries. The company has a particularly strong position in Germany. Ernst Keller, the owner and president of KESO, founded the company in 1963. He is the inventor INVENTOR. One who invents or finds out something. 2. The patent laws of the United States authorize a patent to be issued to the original inventor; if the invention is suggested by another, he is not the inventor within the meaning of those laws; but in that of the company's cylinder cylinder, in mathematics, surface generated by a line moving parallel to a given fixed line and continually intersecting a given fixed curve called the directrix; each line of the family of lines forming the cylinder is called a ruling, or generator. technology, the flat key concept. This technically advanced cylinder offers unchallenged master keying possibilities. Ernst Keller will remain in the position of President until 2003 to support the integration with 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. . KESO's headquarters and main production facility is based in Richterswil, close to Zurich. The company has sales subsidiaries in Germany, France and Austria. The number of employees is 320. ASSA ABLOY is increasing its ownership in KESO AG from 35 to 65 percent and the company will be fully consolidated from closing, which will follow regulatory approval. ASSA ABLOY will acquire the remaining shares by the end of 2003. This increased ownership will be earnings-per-share accretive from 2002. 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 BIT http://www.bit.se 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/2001/04/19/20010419BIT00680/bit0003.doc http://www.bit.se/bitonline/2001/04/19/20010419BIT00680/bit0003.pdf |
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