A key element of Assa Abloy's rapid expansion has been identifying and building up relationships with potential acquisitions, successfully acquiring them, and equally successfully integrating them into the group. The company has now made over 150 acquisitions. The company's journey can also be described as one from mechanical locks to complete door-opening solutions that meet increasing demands for personal and physical security as well as user friendliness.
In Q1 of 2012, revenue grew 25 percent; profit also went up 22 percent, with key contributing regions being Asia, Eastern Europe, South Africa and South America. “The U.S. is also doing quite well, but Europe is a bit slow,” said Johan Molin, Head of Global Technologies and President and CEO, Assa Abloy. “We are simplifying the world, with one single credential that reads and accesses all. It's an important message for the industry.” To make things even easier, Assa Abloy also has a new wireless lock cylinder that is powered by the key's electromagnetic energy and requires zero batteries, saving resources in both installation and maintenance.
Molin was confident in reaching this year's targets with his global teams, and his only concern was that he could not grow this company even faster.