Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Assa Abloy Acquires US-based 4Front; Terms Not Disclosed - Quick Facts

Swedish lockmaker Assa Abloy AB (ASAZF.PK) on Thursday said it has acquired US-based docking systems firm 4Front. The deal was closed simultaneously with signing on December 24. Assa Abloy expects the acquisition to be accretive to earnings per share from start

Texas-based 4Front, which was founded in 1953, offers a complete product range around docking systems as well as a large variety of accessories. It has operations in USA, Canada, Mexico and India, and employes 750 people. 4Front's sales for 2012 are expected to reach $165 million or 1.1 billion Swedish kroner.

Johan Molin, President and CEO of Assa Abloy, said, "4Front, with its leading brands, is yet another strategic entry to the important North American market in entrance automation. I welcome this addition that further reinforces the ASSA ABLOY Group's leadership in entrance automation, growing from SEK 3 billion in 2008 to more than SEK 12 billion proforma in 2012."

Juan Vargues, Executive Vice President of ASSA ABLOY and Head of Division Entrance Systems, added, "The acquisition of 4Front is a great addition to our growing portfolio of docking systems and adds also strongly to our position in the indirect channel of entrance automation products. 4Front has a strong market position, excellent products and a very experienced organization."

Register
To receive FREE breaking news email alerts for ASSA ABLOY and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
A number of major retailers will be open on Thanksgiving for early Black Friday shopping events. Kohl's department stores will kick off Black Friday sales two hours earlier this year, at 6 p.m. Thanksgiving Day, while Macy's, Bon-Ton and Best Buy will open at the same time. J.C. Penney and Sears... Twitter Inc. has replaced its head of product Daniel Graf just six months after luring him over from Google, according to multiple reports. Graf, previously known for his work leading Google Maps, will retain his vice president of product title and work on Twitter's geolocation features, the Wall... LinkedIn Corp., the world's largest online professional network, said Thursday after the markets closed that its third quarter loss widened slightly from last year, as higher costs and expenses more than offset a 45% increase in revenue. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.