logo
Share SHARE
FONT-SIZE Plus   Neg

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."

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Chinese Internet giant Baidu, Inc. on Wednesday announced the release of Apollo 1.5, the second generation of its Apollo open-source autonomous vehicle software. The company also said it plans to set up a 10 billion yuan, or $1.5 billion Apollo self-driving car fund to invest in 100 autonomous driving projects in the next three years. Facebook Inc. said it is tightening controls on its advertising targeting policies and tools after a ProPublica expose last week found that advertisers on the social media site were able to target users interested in anti-Semitic topics. The company clarified that it has long had a firm policy against hate on Facebook. Ryanair Holdings Plc pilots have rejected a cash bonus offered to them by the airline in exchange for cancelling their leave as the airline grapples with massive flight cancellations. Ryanair is cancelling 40 to 50 flights daily for the next six weeks, till the end of October, after it admitted to having "messed up" the planning of pilot holidays.
comments powered by Disqus
Follow RTT