HRNEWS
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FOR: ASSA ABLOY

APR 10, 2012 - 02:10 ET

STOCKHOLM, SWEDEN--(Marketwire - April 10, 2012) - ASSA ABLOY has acquired Traka Plc in the UK. Traka is a leader in the fast growing segment of intelligent key cabinets and asset management solutions. The sales are evenly split between the UK and export markets. The company has a strong track record of innovation and growth.

"I am very pleased to welcome Traka into the ASSA ABLOY Group," says Johan Molin, President and CEO of ASSA ABLOY. "With the addition of Traka we will add advanced locking technologies and solutions to our strategic global product portfolio."

"Traka's leading technologies and solutions will provide us with access to new markets in the UK where we are not active today and will enhance our offering in other regions. Traka brings to ASSA ABLOY an attractive product range and an excellent team" says Tzachi Wiesenfeld, Executive Vice President of ASSA ABLOY and Head of the EMEA Division.

Traka was established in 1995 and is based in Olney near Milton Keynes, UK. The company employs 92 people.

Sales are expected to reach GBP 13 M (approx SEK 140 M) in 2012. The acquisition is EPS accretive from start.

The deal was closed simultaneously with signing on April 6, 2012.

Press release PDF:

http://hugin.info/1014/R/1600965/505421.pdf

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Source: ASSA ABLOY via Thomson Reuters ONE

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