ASSA ABLOY has entered into an agreement to acquire Albany Door Systems, a global leader in high-speed doors.
Albany Door Systems' products are extensively used in applications like industrial and logistical fast access-, fast speciality- and secure access doors. In addition, Albany has a large direct service operation on its core markets. Major manufacturing sites are located in the United States, Germany and China.
"Albany Door Systems is another strategic step and a perfect fit to our expansion into Entrance Automation. I welcome this addition that further reinforces the ASSA ABLOY Group's leadership in entrance automation. In less than three years we have grown from SEK 3 B to an expected SEK 11 B in 2012", commented Johan Molin, President and CEO of ASSA ABLOY.
"I gladly welcome the employees of Albany Door Systems to ASSA ABLOY. Their know-how is an excellent fit with our industrial door operation, key accounts and service offerings. Their global reach and their strong product range is a powerful addition to our current offering in entrance automation", commented Juan Vargues, executive vice pPresident of ASSA ABLOY and hHead of Division Entrance Systems.
Albany Door Systems is a division of the listed U.S. company Albany International Corp. Albany Door Systems is headquartered in Lawrenceville, GA, and has 700 employees. Sales for 2011 are expected to reach $180 million.
The integration of Albany Door Systems will start in 2012. The transaction is subject to regulatory approval and is expected to close during the first quarter of 2012.
UK company manufactures high performance friction hinges, handles and window locks.
ASSA ABLOY has acquired FlexiForce, a leading manufacturer of components for entrance automation. FlexiForce is specialized in manufacturing and distribution of components for industrial sectional...