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.