Assa Abloy acquires Atlantic Door Control
Global security company Assa Abloy, perhaps the world’s foremost maker of doors and locks, announced last week that it has purchased Atlantic Door Control. Atlantic is a “pedestrian door distributor” based in Maryland and Virginia that was established in 1992. Assa Abloy will no doubt be hoping to use the company’s expertise and networks to gain further exposure both to the pedestrian door market, and the U.S.
Assa Abloy’s share price has risen by 20% year to date
SOURCE: Yahoo Finance
Assa Abloy’s president and CEO, Johan Molin, said: "I am very pleased that Atlantic Door Control is joining the ASSA ABLOY Group. I welcome this addition that further reinforces ASSA ABLOY's leadership in entrance automation, where our sales have grown from SEK 3 billion in 2008 to SEK 20 billion in 2016."
Juan Vargues, executive vice president of Assa Abloy and head of Division Entrance Systems, added: “We hereby continue our expansion in North America, adding to our growing market footprint. Atlantic Door Control gives us a strong presence in an important area of the market and I welcome the team to ASSA ABLOY."
Dominion holds Assa Abloy in its Global Trends Managed Fund.
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