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| Carriage House Style Garage Door |
ASSA ABLOY has signed an agreement to acquire Amarr, the third major player in the North American sectional door market, with a very strong and attractive market position.
Johan Molin, President and CEO of ASSA ABLOY commented:
”Amarr is another important building block for the ASSA ABLOY Group in building global leadership within Entrance Automation. I welcome Amarr and its employees to the Group, constituting the basis for further expansion on the North American market. Since 2008 we have rapidly expanded the Entrance Systems Division from SEK 3 billion to more than SEK 14 billion.”
Juan Vargues, Executive Vice President of ASSA ABLOY and Head of Division Entrance Systems added:
”Amarr’s size, product offering and market position give a strong footprint within sectional doors in North America. With Amarr onboard we are well positioned to apply the same rapid expansion of North America, like we have done in Europe during the last few years.”
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| Model 2700 Steel Sectional |
The company was founded in 1951 and is based in Winston-Salem, North Carolina with operations in USA, Canada and Mexico. The company has 1,200 employees.
Sales for 2014 are expected to reach USD 330 M (SEK 2,100 M). The acquisition will be accretive to EPS (earnings per share) from start.
The transaction is subject to regulatory approval and is expected to close during Q4 2013.
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