STOCKHOLM, SWEDEN -- (Marketwire) -- 05/30/12 -- ASSA ABLOY has acquired Shandong Guoqiang Hardware in China. Guoqiang offers a full range of window hardware predominantly in the Chinese market. The company has a good market presence in China through an extensive network of sales offices.
"I am very pleased to welcome Guoqiang into the ASSA ABLOY Group. Guoqiang is an important step in our expansion into new growth segments in China and other emerging markets", says Johan Molin, President and CEO of ASSA ABLOY.
"Guoqiang is a great addition to the Asia Pacific division. It complements our existing door opening solution offering in China, and provides access to China's window hardware market", says Jonas Persson, Executive Vice President of ASSA ABLOY and Head of Asia Pacific Division.
Guoqiang was established in 1998 and has over 2 000 employees. The head office and main factory is located in Leling, Shandong province, China.
Sales is expected to reach CNY 550 M (approx SEK 600 M) in 2012 with a good EBIT margin. The acquisition will be accretive to EPS from start.
Press release PDF: http://hugin.info/1014/R/1615611/515032.pdf
This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: ASSA ABLOY via Thomson Reuters ONE [HUG#1615611]
For more information, please contact:
President and CEO
tel no: +46 8 506 485 42
Carolina Dybeck Happe
CFO and Executive Vice President
tel no: +46 8 506 485 72
|04:55 PM||Intelligence Squared U.S. Debates "Cutting the Pentagon's Budget is a Gift To Our Enemies" With McCain Institute, June 19th in DC|
|04:53 PM||Canadian Life Companies Split Corp. Monthly Dividend Declaration for Preferred Shares|
|04:53 PM||Income Streams III: Monthly Distribution Declared for Equity Dividend Share|
|04:52 PM||BMO Investments Inc. Announces Proposed Changes to its Mutual Fund Lineup|
|04:52 PM||Gentex Announces Officer Change|
|04:51 PM||TDb Split Corp.: Regular Monthly Dividend Declaration for Preferred Share|
|04:50 PM||Capital Gains Income STREAMS Monthly Distribution Declared for Equity Dividend Share|
|04:50 PM||AirIQ Signs Contract With Major Rental Company|
|04:49 PM||M Split Corp.: Monthly Dividend Declared for Class I Preferred Share|
|04:46 PM||Income Financial Monthly Distribution Declared|
|04:46 PM||US Financial 15 Split Corp.: Preferred Dividend Declared|
|04:43 PM||Dividend Select 15 Corp.: Monthly Dividend Declaration|
|04:42 PM||Financial 15 Split Corp. II: Regular Monthly Dividend Declaration for Class A & Preferred Share|
|04:41 PM||Dividend 15 Split Corp. II: Regular Monthly Dividend Declaration for Class A and Preferred Share|
|04:39 PM||Forbes & Manhattan Coal Announces New Board Member|
|04:38 PM||Financial 15 Split Corp. Regular Monthly Dividend Declaration for Class A & Preferred Share|
|04:36 PM||Vacation Properties Given Away in Exchange for Charitable Contribution by the Vacation Foundation|
|04:35 PM||CAPREIT Announces Increase in Monthly Cash Distributions|
|04:32 PM||Dividend 15 Split Corp.: Regular Monthly Dividend Declaration|
|04:31 PM||ProStudioBeats.com Offers Free Downloads to Site Visitors|
|04:31 PM||Astro-Med, Inc. Reports First Quarter Fiscal 2014 Financial Results; Directors Declare Regular Cash Dividend|
|04:30 PM||Terra Firma Capital Corporation Reports Results for the First Quarter Ended March 31, 2013|
|04:30 PM||New Commerce Split: Monthly Dividend Declared for Class I Preferred Share (YCM.PR.A)|
|04:28 PM||Canadian Banc Corp: Regular Monthly Dividend Declaration for Class A and Preferred Share|
|04:20 PM||Indigo Exploration Inc. Provides Update on Kodyel Gold Prospect, Burkina Faso|
|04:20 PM||Intertainment Media Inc. Announces Amendment to Terms of Warrants|
|04:16 PM||Generation SF Is Proud to Announce Its Second Annual "Party Like Your Parents" Fundraiser at AT&T Park to Combat Cancer|
|04:15 PM||Li3 Energy and Blue Wolf Mongolia Holdings Corp. Enter Into Merger Agreement|
|04:09 PM||Hayward(R) Featured in 'Manfuacturing Marvels' Series on Fox Business Network(R)|
|04:05 PM||Lara Exploration Ltd.: Drilling Restarts at Liberdade in Northern Brazil|
|More Press Releases From Marketwired News Releases|