ASSA ABLOY has acquired Shandong Guoqiang Hardware in China. Guoqiang offers a full range of window hardware predominantly in the Chinese market. The company has a good market presence in China through an extensive network of sales offices.
"I am very pleased to welcome Guoqiang into the ASSA ABLOY Group. Guoqiang is an important step in our expansion into new growth segments in China and other emerging markets", says Johan Molin, President and CEO of ASSA ABLOY.
"Guoqiang is a great addition to the Asia Pacific division. It complements our existing door opening solution offering in China, and provides access to China's window hardware market", says Jonas Persson, Executive VP of ASSA ABLOY and Head of Asia Pacific Division.
Guoqiang was established in 1998 and has over 2 000 employees. The head office and main factory is located in Leling, Shandong province, China.
Sales is expected to reach CNY 550 M (approx SEK 600 M) in 2012 with a good EBIT margin. The acquisition will be accretive to EPS from start.
Optex announces new VP of Sales and Marketing
CT Links Technology introduces new 9 port FE wall mounted switch
ZKAccess releases wireless bridge for networking of door controllers
AMAG Technology launches Symmetry CompleteView 4.6.1
Camden Door Controls introduces new "universal" Grade 1 strikes
Grundig launches Connect IP 3MP camera range
3xLOGIC and Sonitrol Tri-County aids city of Flint
How to do when DVR auto reboot repeatedly?
AX-Click: people traffic counting application that allows acquiring quantitative data of the pedestrian traffic of any busines
Join Korenix at IFSEC 2016 to Learn about Latest Technologies and Products in PoE, Wireless, and Cyber Security
Congratulations! Brickcom Is an Authorized Apple MFi Manufacturing License!
CNL Software PSIM Addressing Fire Security and Safety in India
Copyright © 2016. Messe Frankfurt New Era Business Media Ltd. All rights reserved.