FONT-SIZE Plus   Neg

ASSA ABLOY Buys Traka - Quick Facts

Swedish lockmaker ASSA ABLOY AB (ASAZF.PK) said it has acquired Traka Plc in the UK. The acquisition is earnings per share accretive from start.

Johan Molin, President and CEO of ASSA ABLOY, said, "..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...," said Tzachi Wiesenfeld, Executive Vice President of ASSA ABLOY and Head of the EMEA Division.

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

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Apple confirmed that it has bought face animation software firm Faceshift, although it was tight lipped about how it intends to use the new addition. The move is speculated as a bid to expand into virtual reality. Environment ministry of South Korea Thursday ordered Volkswagen Korea to recall 125,522 diesel vehicles on determining actual emissions of nitrogen oxides. The ministry has asked the German automobile maker to pay a fine of 14.1 billion Won or $12.31 million. The company has to submit a recall plan by January 6, 2016. The U.S. Food and Drug Administration has alerted health care professionals and patients of a voluntary recall of compounded multivitamin capsules containing high amounts of Vitamin D3 (Cholecalciferol), distributed nationwide by Glades Drugs in Pahokee, Florida. FDA has received reports of several...
comments powered by Disqus
Follow RTT